McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.1% in the 3rd quarter, Holdings Channel reports. The firm owned 49,712 shares of the company’s stock after acquiring an additional 551 shares during the quarter. IFM Investors Pty Ltd’s holdings in McCormick & Company, Incorporated were worth $4,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in McCormick & Company, Incorporated by 13.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 121,333 shares of the company’s stock worth $9,320,000 after buying an additional 14,641 shares during the period. Oak Thistle LLC bought a new stake in McCormick & Company, Incorporated in the 1st quarter valued at about $658,000. Compton Financial Group LLC acquired a new position in McCormick & Company, Incorporated during the 1st quarter valued at about $203,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in 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 during the last quarter. Finally, KFG Wealth Management LLC grew its position in 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 during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $77.86 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $81.16 and its 200 day moving average price is $75.90. McCormick & Company, Incorporated has a 52-week low of $62.54 and a 52-week high of $85.49. The firm has a market cap 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 (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm earned $0.65 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.16%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

MKC has been the subject of several analyst reports. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. TD Cowen increased their price target 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. Bank of America raised their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.