Western Pacific Wealth Management LP Purchases New Position in McCormick & Company, Incorporated (NYSE:MKC)

Western Pacific Wealth Management LP acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,700 shares of the company’s stock, valued at approximately $140,000.

Other hedge funds have also bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its stake in McCormick & Company, Incorporated by 2.9% in the first 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. Janney Montgomery Scott LLC bought a new position in McCormick & Company, Incorporated in the third quarter valued at approximately $20,227,000. Cetera Investment Advisers raised its position in McCormick & Company, Incorporated by 470.6% during the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after purchasing an additional 31,306 shares in the last quarter. SG Americas Securities LLC lifted its stake 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 purchasing an additional 54,616 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in 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 last quarter. 79.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the transaction, the director now owns 28,217 shares in the company, valued at $2,210,237.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 0.4 %

Shares of NYSE MKC opened at $76.34 on Friday. The stock has a market cap of $20.49 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 3.57 and a beta of 0.77. The firm has a 50 day moving average price of $81.02 and a two-hundred day moving average price of $76.19. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. 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 announced its 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. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. McCormick & Company, Incorporated’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company 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 was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.20%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 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.