First Pacific Financial Acquires 488 Shares of McCormick & Company, Incorporated (NYSE:MKC)

First Pacific Financial lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,271 shares of the company’s stock after purchasing an additional 488 shares during the quarter. First Pacific Financial’s holdings in McCormick & Company, Incorporated were worth $1,174,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Capital Advisors Ltd. LLC increased its stake in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. OFI Invest Asset Management bought a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $29,000. 1620 Investment Advisors Inc. bought a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $35,000. Strategic Investment Solutions Inc. IL bought a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $39,000. Finally, Farmers & Merchants Investments Inc. increased its stake in McCormick & Company, Incorporated by 40.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after acquiring an additional 228 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Trading Up 0.5 %

Shares of NYSE:MKC traded up $0.44 during mid-day trading on Tuesday, reaching $81.49. 1,224,050 shares of the company’s stock were exchanged, compared to its average volume of 1,935,540. The firm has a market capitalization of $21.89 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 3.66 and a beta of 0.77. The business’s fifty day moving average price is $80.76 and its 200-day moving average price is $75.70. 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 twelve month low of $59.45 and a twelve month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. On average, research analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.06%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MKC shares. TD Cowen lifted their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Bank of America raised their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $79.57.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 22.90% of the stock is owned by company insiders.

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.