Exchange Traded Concepts LLC Acquires 2,282 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Exchange Traded Concepts LLC boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 23.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,900 shares of the company’s stock after acquiring an additional 2,282 shares during the period. Exchange Traded Concepts LLC’s holdings in McCormick & Company, Incorporated were worth $979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its holdings in shares of 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 purchasing an additional 135 shares during the last quarter. HCR Wealth Advisors grew its stake in McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock valued at $381,000 after buying an additional 135 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in McCormick & Company, Incorporated by 2.9% in the 2nd 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. Taylor Frigon Capital Management LLC lifted its position in McCormick & Company, Incorporated by 1.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock worth $1,193,000 after acquiring an additional 156 shares during the last quarter. Finally, KFG Wealth Management LLC boosted its holdings in shares of McCormick & Company, Incorporated by 1.5% during the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after acquiring an additional 156 shares during the period. Institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. TD Cowen lifted their target price 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, Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $81.11 on Thursday. The company has a market cap of $21.79 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 3.66 and a beta of 0.77. McCormick & Company, Incorporated has a fifty-two week low of $59.45 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. The stock has a fifty day moving average price of $80.92 and a 200-day moving average price of $75.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS 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 the consensus estimate of $1.67 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

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.