HM Payson & Co. Buys 251 Shares of McCormick & Company, Incorporated (NYSE:MKC)

HM Payson & Co. boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,873 shares of the company’s stock after purchasing an additional 251 shares during the quarter. HM Payson & Co.’s holdings in McCormick & Company, Incorporated were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diversify Wealth Management LLC grew its holdings in McCormick & Company, Incorporated by 13.2% in the third quarter. Diversify Wealth Management LLC now owns 15,117 shares of the company’s stock worth $1,200,000 after purchasing an additional 1,768 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of McCormick & Company, Incorporated by 3.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,365 shares of the company’s stock valued at $771,000 after purchasing an additional 340 shares during the last quarter. Evermay Wealth Management LLC boosted its position in shares of McCormick & Company, Incorporated by 22.2% in the 3rd quarter. Evermay Wealth Management LLC now owns 1,933 shares of the company’s stock worth $159,000 after purchasing an additional 351 shares in the last quarter. Integrated Advisors Network LLC grew its stake in McCormick & Company, Incorporated by 22.1% during the 3rd quarter. Integrated Advisors Network LLC now owns 3,796 shares of the company’s stock worth $312,000 after buying an additional 686 shares during the last quarter. Finally, Boston Financial Mangement LLC increased its position in McCormick & Company, Incorporated by 10.5% during the 3rd quarter. Boston Financial Mangement LLC now owns 8,120 shares of the company’s stock valued at $668,000 after buying an additional 770 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $78.75 on Friday. The business’s 50-day moving average is $81.11 and its two-hundred day moving average is $76.06. The company has a market capitalization 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. McCormick & Company, Incorporated has a fifty-two week low of $63.67 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.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share 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 company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the business earned $0.65 earnings per share. McCormick & Company, Incorporated’s quarterly revenue was down .3% on a year-over-year basis. Research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.13%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

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.