Boston Trust Walden Corp Grows Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Boston Trust Walden Corp increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 637,991 shares of the company’s stock after purchasing an additional 5,317 shares during the quarter. Boston Trust Walden Corp’s holdings in McCormick & Company, Incorporated were worth $52,507,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its holdings in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares in the last quarter. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated during the second quarter worth about $29,000. 1620 Investment Advisors Inc. purchased a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at about $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at about $39,000. Finally, Friedenthal Financial purchased a new position in McCormick & Company, Incorporated in the 3rd quarter worth approximately $49,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Down 1.2 %

Shares of McCormick & Company, Incorporated stock traded down $0.91 during trading hours on Friday, hitting $77.86. The company’s stock had a trading volume of 1,129,184 shares, compared to its average volume of 1,927,726. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 3.62 and a beta of 0.77. 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 has a twelve month low of $62.54 and a twelve month high of $85.49. The firm has a fifty day moving average of $81.16 and a 200-day moving average of $75.90.

McCormick & Company, Incorporated (NYSE:MKC) last posted its 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. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. Research analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a dividend of $0.42 per share. The ex-dividend date 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 payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MKC. Stifel Nicolaus upped their price target 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. Bank of America upped their target price on 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 lifted their price target 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 raised shares of McCormick & Company, Incorporated to a “strong-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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.