Friedenthal Financial Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Friedenthal Financial bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 594 shares of the company’s stock, valued at approximately $49,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its holdings 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 valued at $23,165,000 after purchasing an additional 7,898 shares in the last quarter. Cetera Investment Advisers lifted 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 buying an additional 31,306 shares in the last quarter. SG Americas Securities LLC boosted its position in 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 acquiring an additional 54,616 shares during the last quarter. Sei Investments Co. grew its stake in McCormick & Company, Incorporated by 11.8% during the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after acquiring an additional 16,420 shares in the last quarter. Finally, Boston Trust Walden Corp raised its holdings in McCormick & Company, Incorporated by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after acquiring an additional 6,588 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.2 %

Shares of MKC stock opened at $80.18 on Friday. McCormick & Company, Incorporated has a 1-year low of $59.45 and a 1-year high of $85.49. The firm has a market cap of $21.54 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 3.66 and a beta of 0.77. The company has a 50-day moving average of $81.01 and a two-hundred day moving average of $75.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MKC shares. TD Cowen upped their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America lifted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, 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 report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given 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.com, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus target price of $79.57.

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.