McCormick & Company, Incorporated (NYSE:MKC) Position Increased by EP Wealth Advisors LLC

EP Wealth Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 14.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,631 shares of the company’s stock after buying an additional 716 shares during the period. EP Wealth Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $463,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MKC. Sequoia Financial Advisors LLC boosted its holdings in McCormick & Company, Incorporated by 6.5% during the second quarter. Sequoia Financial Advisors LLC now owns 5,133 shares of the company’s stock worth $364,000 after buying an additional 315 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in McCormick & Company, Incorporated by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 128,193 shares of the company’s stock worth $9,094,000 after buying an additional 6,860 shares in the last quarter. Boston Trust Walden Corp boosted its holdings in McCormick & Company, Incorporated by 1.1% during the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after buying an additional 6,588 shares in the last quarter. OFI Invest Asset Management bought a new stake in McCormick & Company, Incorporated during the second quarter worth approximately $29,000. Finally, KFG Wealth Management LLC boosted its holdings in McCormick & Company, Incorporated by 1.5% during the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after buying an additional 156 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MKC has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $91.00 in a research note on Monday. Bank of America raised their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen raised their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $81.00.

Insider Buying and Selling

In related news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the transaction, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 20,000 shares of company stock worth $1,565,850 in the last quarter. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Up 0.1 %

McCormick & Company, Incorporated stock opened at $81.41 on Friday. The company has a market capitalization of $21.85 billion, a P/E ratio of 27.69, a P/E/G ratio of 3.31 and a beta of 0.75. The firm’s fifty day simple moving average is $78.36 and its 200-day simple moving average is $76.64. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 1-year low of $63.88 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 for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.22%.

McCormick & Company, Incorporated 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.