McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 16.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,539 shares of the company’s stock after acquiring an additional 1,045 shares during the quarter. Prio Wealth Limited Partnership’s holdings in McCormick & Company, Incorporated were worth $620,000 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 lifted its holdings in shares of McCormick & Company, Incorporated by 2.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after purchasing an additional 7,898 shares during the period. Cetera Investment Advisers lifted its holdings in shares of McCormick & Company, Incorporated by 470.6% during 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 period. 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. lifted its holdings in shares of McCormick & Company, Incorporated by 11.8% during the first quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock worth $11,951,000 after purchasing an additional 16,420 shares during the period. Finally, Boston Trust Walden Corp lifted its holdings in shares of 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 purchasing an additional 6,588 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded down $1.47 during midday trading on Monday, reaching $78.71. The company’s stock had a trading volume of 383,271 shares, compared to its average volume of 1,919,399. McCormick & Company, Incorporated has a fifty-two week low of $59.45 and a fifty-two week high of $85.49. 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’s 50 day simple moving average is $81.01 and its 200 day simple moving average is $75.80. The firm has a market capitalization of $21.14 billion, a PE ratio of 29.26, a P/E/G ratio of 3.66 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last announced 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. 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 analysts’ expectations of $1.67 billion. During the same quarter last year, the business posted $0.65 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

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.