Radnor Capital Management LLC Buys New Stake in McCormick & Company, Incorporated (NYSE:MKC)

Radnor Capital Management LLC bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,200 shares of the company’s stock, valued at approximately $346,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its stake in McCormick & Company, Incorporated by 2.9% during 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 buying an additional 7,898 shares during the last quarter. Cetera Investment Advisers grew its stake 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 acquiring an additional 31,306 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $20,227,000. SG Americas Securities LLC increased 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 valued at $5,452,000 after acquiring an additional 54,616 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of McCormick & Company, Incorporated by 11.8% in the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after purchasing an additional 16,420 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 0.4 %

McCormick & Company, Incorporated stock opened at $76.34 on Friday. The business’s 50-day moving average price is $81.02 and its 200 day moving average price is $76.19. 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 firm has a market cap of $20.49 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 3.57 and a beta of 0.77. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is currently 57.14%.

Analysts Set New Price Targets

A number of research analysts have issued reports on MKC shares. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. TD Cowen upped their target price 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. Stifel Nicolaus raised 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. Finally, Bank of America upped their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $79.57.

Insider Activity

In related news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the transaction, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 22.90% of the company’s stock.

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.