J.W. Cole Advisors Inc. Decreases Position in McCormick & Company, Incorporated (NYSE:MKC)

J.W. Cole Advisors Inc. trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,296 shares of the company’s stock after selling 319 shares during the period. J.W. Cole Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $847,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its stake in shares of McCormick & Company, Incorporated by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock valued at $2,094,000 after acquiring an additional 135 shares during the last quarter. HCR Wealth Advisors increased its stake in McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after purchasing an additional 135 shares during the period. Wallington Asset Management LLC lifted its position in McCormick & Company, Incorporated by 3.4% in the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after purchasing an additional 136 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated by 2.9% during the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after purchasing an additional 141 shares during the period. Finally, KFG Wealth Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 1.5% during the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after purchasing an additional 156 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 1.1 %

Shares of NYSE MKC opened at $77.48 on Wednesday. The firm has a fifty day simple moving average of $81.15 and a two-hundred day simple moving average of $75.98. McCormick & Company, Incorporated has a 12 month low of $62.72 and a 12 month 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 firm has a market capitalization of $20.81 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 3.62 and a beta of 0.77.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Analyst Ratings Changes

A number of research firms recently commented on MKC. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. TD Cowen boosted 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 report on Wednesday, October 2nd. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America raised their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given 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 presently has an average 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.