McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Wallington Asset Management LLC

Wallington Asset Management LLC grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,136 shares of the company’s stock after acquiring an additional 136 shares during the quarter. Wallington Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC increased its stake in 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 acquiring an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated during the second quarter worth about $29,000. 1620 Investment Advisors Inc. acquired a new stake in McCormick & Company, Incorporated during the second quarter worth about $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated during the second quarter worth about $39,000. Finally, Friedenthal Financial acquired a new stake in McCormick & Company, Incorporated during the third quarter worth about $49,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on MKC shares. TD Cowen upped 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 increased their target price 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. Stifel Nicolaus increased their target price 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. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Trading Up 0.6 %

Shares of MKC opened at $79.37 on Thursday. The company has a market capitalization of $21.32 billion, a P/E ratio of 28.97, a P/E/G ratio of 3.66 and a beta of 0.77. McCormick & Company, Incorporated has a one year low of $61.12 and a one year 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 50-day moving average price of $81.10 and a 200 day moving average price of $75.86.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. McCormick & Company, Incorporated’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 earnings per share. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

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.