Barlow Wealth Partners Inc. Decreases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Barlow Wealth Partners Inc. lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 5.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,205 shares of the company’s stock after selling 200 shares during the quarter. Barlow Wealth Partners Inc.’s holdings in McCormick & Company, Incorporated were worth $254,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of McCormick & Company, Incorporated by 2.9% in the 1st 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. Champlain Investment Partners LLC boosted its stake in shares of McCormick & Company, Incorporated by 4.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock valued at $246,646,000 after buying an additional 136,080 shares during the period. ProShare Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated by 2.4% in the 1st quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock valued at $201,442,000 after buying an additional 60,512 shares during the period. Nuance Investments LLC boosted its stake in shares of McCormick & Company, Incorporated by 10.5% in the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after buying an additional 99,741 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake 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 valued at $69,256,000 after buying an additional 975,255 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the subject of several recent analyst reports. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their target price 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. Finally, Bank of America boosted 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 equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Stock Performance

MKC traded up $0.01 during trading on Wednesday, hitting $79.64. 46,286 shares of the stock were exchanged, compared to its average volume of 1,941,579. The firm has a market capitalization of $21.39 billion, a P/E ratio of 29.06, a PEG ratio of 4.24 and a beta of 0.77. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $85.49. The stock has a fifty day moving average price of $80.55 and a two-hundred day moving average price of $75.55. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly 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. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

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 issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.90% of the company’s stock.

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.