State of Alaska Department of Revenue Has $2.41 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

State of Alaska Department of Revenue boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 29,252 shares of the company’s stock after purchasing an additional 1,985 shares during the period. State of Alaska Department of Revenue’s holdings in McCormick & Company, Incorporated were worth $2,407,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its position in shares of McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after purchasing an additional 975,255 shares during the period. Nuance Investments LLC bought a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $73,160,000. Vanguard Group Inc. increased its position in shares of McCormick & Company, Incorporated by 2.9% during the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the period. Marshall Wace LLP acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $51,286,000. Finally, Millennium Management LLC boosted its stake in McCormick & Company, Incorporated by 111.2% in the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after buying an additional 386,320 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $78.75 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The firm has a market cap of $21.13 billion, a P/E ratio of 26.79, a P/E/G ratio of 3.56 and a beta of 0.77. The business’s fifty day moving average is $81.11 and its two-hundred day moving average is $76.06. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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 return on equity of 15.30% and a net margin of 11.87%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts forecast 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. Stockholders of record on Monday, October 7th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analysts Forecast Growth

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

McCormick & Company, Incorporated 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.