nVerses Capital LLC Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

nVerses Capital LLC acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the 3rd quarter, Holdings Channel reports. The firm acquired 12,100 shares of the company’s stock, valued at approximately $996,000.

Other hedge funds also recently modified their holdings of the company. Capital Advisors Ltd. LLC boosted its holdings in 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 last quarter. OFI Invest Asset Management bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $35,000. Strategic Investment Solutions Inc. IL bought a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at about $39,000. Finally, Farmers & Merchants Investments Inc. raised its stake in McCormick & Company, Incorporated by 40.3% in the 2nd 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 period. Institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MKC shares. Bank of America boosted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. TD Cowen boosted their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 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. Finally, Stifel Nicolaus boosted their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Trading Down 0.6 %

Shares of NYSE:MKC traded down $0.47 during trading on Thursday, reaching $80.64. 152,335 shares of the company traded hands, compared to its average volume of 1,922,502. The firm has a market capitalization of $21.66 billion, a price-to-earnings ratio of 29.60, a P/E/G ratio of 3.66 and a beta of 0.77. McCormick & Company, Incorporated has a 52-week low of $59.45 and a 52-week high of $85.49. 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’s fifty day moving average is $80.92 and its 200-day moving average is $75.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its 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. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the firm posted $0.65 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. As a group, analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be paid a $0.42 dividend. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.08%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

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.