Blue Trust Inc. Buys 1,163 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Blue Trust Inc. lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 125.9% in the third quarter, Holdings Channel reports. The firm owned 2,087 shares of the company’s stock after buying an additional 1,163 shares during the period. Blue Trust Inc.’s holdings in McCormick & Company, Incorporated were worth $172,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MKC. Wealth Enhancement Advisory Services LLC boosted its position in shares of McCormick & Company, Incorporated by 13.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 121,333 shares of the company’s stock worth $9,320,000 after purchasing an additional 14,641 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth $658,000. Compton Financial Group LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth $203,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of McCormick & Company, Incorporated by 0.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 656,686 shares of the company’s stock worth $50,440,000 after purchasing an additional 3,584 shares in the last quarter. Finally, KFG Wealth Management LLC boosted its position in shares of McCormick & Company, Incorporated by 96.6% in the 1st quarter. KFG Wealth Management LLC now owns 10,278 shares of the company’s stock worth $789,000 after purchasing an additional 5,049 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $77.86 on Friday. The stock has a 50-day simple moving average of $81.16 and a two-hundred day simple moving average of $75.90. The firm has a market capitalization of $20.89 billion, a P/E ratio of 26.48, a PEG ratio of 3.62 and a beta of 0.77. McCormick & Company, Incorporated has a fifty-two week low of $62.54 and a fifty-two week high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data 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 business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business posted $0.65 EPS. The company’s revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.16%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MKC shares. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. TD Cowen lifted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America lifted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.