Boston Trust Walden Corp Grows Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Boston Trust Walden Corp grew its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 637,991 shares of the company’s stock after acquiring an additional 5,317 shares during the quarter. Boston Trust Walden Corp owned 0.24% of McCormick & Company, Incorporated worth $52,507,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in McCormick & Company, Incorporated by 2.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after acquiring an additional 7,898 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of McCormick & Company, Incorporated by 470.6% in the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after purchasing an additional 31,306 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of McCormick & Company, Incorporated by 333.8% during the first quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock worth $5,452,000 after purchasing an additional 54,616 shares during the period. Sei Investments Co. boosted its position in McCormick & Company, Incorporated by 11.8% in the first quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after buying an additional 16,420 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in McCormick & Company, Incorporated by 16.8% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 284,729 shares of the company’s stock worth $21,870,000 after buying an additional 41,042 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MKC. Bank of America lifted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock traded down $0.91 during mid-day trading on Friday, hitting $77.86. 1,129,184 shares of the stock were exchanged, compared to its average volume of 1,927,726. McCormick & Company, Incorporated has a 52-week low of $62.54 and a 52-week high of $85.49. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $20.89 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.77. The firm has a fifty day moving average of $81.16 and a 200 day moving average of $75.90.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the business posted $0.65 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is presently 57.14%.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.