Crestwood Advisors Group LLC Has $46.73 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Crestwood Advisors Group LLC boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.3% during the third quarter, Holdings Channel.com reports. The fund owned 567,762 shares of the company’s stock after acquiring an additional 7,114 shares during the period. Crestwood Advisors Group LLC’s holdings in McCormick & Company, Incorporated were worth $46,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its holdings in shares of McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the period. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated in the second quarter valued at about $29,000. 1620 Investment Advisors Inc. bought a new position in McCormick & Company, Incorporated in the second quarter valued at about $35,000. Strategic Investment Solutions Inc. IL bought a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $39,000. Finally, Friedenthal Financial acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $49,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Down 0.1 %

MKC stock traded down $0.11 during midday trading on Tuesday, hitting $78.07. The stock had a trading volume of 35,931 shares, compared to its average volume of 1,904,816. The firm has a market cap of $20.95 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 3.60 and a beta of 0.77. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average price of $81.09 and a two-hundred day moving average price of $76.15. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.15. The firm had revenue of $1.68 billion for 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%. The company’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 earnings per share. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.15%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 57.14%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of the sale, the director now directly owns 40,436 shares in the company, valued at $3,174,226. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of research reports. TD Cowen increased their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Bank of America lifted their target price 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. One investment 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 stock currently has a consensus rating of “Hold” and a consensus price target 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.