TrinityPoint Wealth LLC Increases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

TrinityPoint Wealth LLC increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 55.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,401 shares of the company’s stock after purchasing an additional 3,010 shares during the period. TrinityPoint Wealth LLC’s holdings in McCormick & Company, Incorporated were worth $691,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its stake in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the period. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $28,000. OFI Invest Asset Management purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated in the 2nd quarter valued at $39,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $78.50, for a total value of $392,500.00. Following the sale, the director now owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. This represents a 11.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 20,000 shares of company stock worth $1,565,850 over the last ninety days. 22.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $74.62 on Tuesday. The stock has a fifty day moving average price of $80.13 and a 200 day moving average price of $76.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The stock has a market cap of $20.03 billion, a PE ratio of 25.38, a P/E/G ratio of 3.38 and a beta of 0.77. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The business’s revenue was down .3% on a year-over-year basis. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.25%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

McCormick & Company, Incorporated Company Profile

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.