Creative Planning Reduces Stake in McCormick & Company, Incorporated (NYSE:MKC)

Creative Planning lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.6% during the third quarter, HoldingsChannel reports. The fund owned 133,515 shares of the company’s stock after selling 748 shares during the period. Creative Planning’s holdings in McCormick & Company, Incorporated were worth $10,988,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MKC. Capital Advisors Ltd. LLC grew its stake 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 buying an additional 175 shares during the last quarter. OFI Invest Asset Management purchased a new position in McCormick & Company, Incorporated during the 2nd quarter worth approximately $29,000. 1620 Investment Advisors Inc. purchased a new position in McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated during the 2nd quarter worth approximately $39,000. Finally, Farmers & Merchants Investments Inc. grew its stake in McCormick & Company, Incorporated by 40.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after buying an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Cowen raised their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Bank of America lifted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their target price 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Stock Up 1.0 %

MKC opened at $78.86 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The business has a 50 day simple moving average of $81.08 and a 200-day simple moving average of $75.84. The stock has a market capitalization of $21.18 billion, a P/E ratio of 28.78, a P/E/G ratio of 3.66 and a beta of 0.77. McCormick & Company, Incorporated has a 12 month low of $59.45 and a 12 month high of $85.49.

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

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.13%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

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.