PFG Investments LLC Raises Stake in McCormick & Company, Incorporated (NYSE:MKC)

PFG Investments LLC increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,295 shares of the company’s stock after buying an additional 197 shares during the quarter. PFG Investments LLC’s holdings in McCormick & Company, Incorporated were worth $1,259,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its holdings in shares of McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the period. Nuance Investments LLC purchased a new stake in McCormick & Company, Incorporated in the first quarter worth $73,160,000. Vanguard Group Inc. raised its stake in shares of McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after buying an additional 883,327 shares during the period. Marshall Wace LLP purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $51,286,000. Finally, Millennium Management LLC grew its stake in shares of McCormick & Company, Incorporated by 111.2% during the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after acquiring an additional 386,320 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $77.86 on Friday. The company’s 50 day simple moving average is $81.16 and its two-hundred day simple moving average is $75.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1 year low of $62.54 and a 1 year high of $85.49. The stock has a market capitalization of $20.89 billion, a PE ratio of 26.48, a P/E/G ratio of 3.62 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (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 the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.16%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

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

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.