Koshinski Asset Management Inc. Purchases 690 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Koshinski Asset Management Inc. grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 18.6% in the third quarter, HoldingsChannel.com reports. The fund owned 4,398 shares of the company’s stock after buying an additional 690 shares during the period. Koshinski Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Advisors Ltd. LLC lifted its stake in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $29,000. 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $35,000. Strategic Investment Solutions Inc. IL bought a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $39,000. Finally, Farmers & Merchants Investments Inc. lifted its holdings in McCormick & Company, Incorporated by 40.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after purchasing an additional 228 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MKC. Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Bank of America increased their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. TD Cowen boosted their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Stock Up 0.5 %

NYSE MKC opened at $81.49 on Wednesday. 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 $21.89 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 3.66 and a beta of 0.77. The company has a 50 day moving average of $80.85 and a 200-day moving average of $75.73. McCormick & Company, Incorporated has a 1-year low of $59.45 and a 1-year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the company posted $0.65 EPS. The company’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be paid a dividend of $0.42 per share. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.06%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

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.