DekaBank Deutsche Girozentrale Purchases 1,150 Shares of McCormick & Company, Incorporated (NYSE:MKC)

DekaBank Deutsche Girozentrale increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.3% during the third quarter, HoldingsChannel.com reports. The firm owned 50,897 shares of the company’s stock after buying an additional 1,150 shares during the period. DekaBank Deutsche Girozentrale’s holdings in McCormick & Company, Incorporated were worth $4,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue grew its position in McCormick & Company, Incorporated by 0.5% in the first 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 period. HCR Wealth Advisors grew its position in McCormick & Company, Incorporated by 2.6% in the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock valued at $381,000 after acquiring an additional 135 shares during the period. Wallington Asset Management LLC grew 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 acquiring an additional 136 shares during the period. Aptus Capital Advisors LLC grew its position in McCormick & Company, Incorporated by 2.9% in the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after acquiring an additional 141 shares during the period. Finally, KFG Wealth Management LLC grew its position in McCormick & Company, Incorporated by 1.5% in the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after acquiring an additional 156 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. 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 research note on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen boosted their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Trading Up 0.4 %

MKC opened at $78.23 on Friday. The company’s 50 day moving average is $81.12 and its 200-day moving average is $76.01. McCormick & Company, Incorporated has a 1-year low of $63.28 and a 1-year 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 company has a market cap of $20.99 billion, a P/E ratio of 26.61, a PEG ratio of 3.62 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping 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 business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned $0.65 EPS. The firm’s revenue was down .3% compared to the same quarter last year. Equities research analysts predict 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 declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders 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 2.15%. McCormick & Company, Incorporated’s payout ratio is 57.14%.

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.