Sequoia Financial Advisors LLC Increases Position in McCormick & Company, Incorporated (NYSE:MKC)

Sequoia Financial Advisors LLC grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,426 shares of the company’s stock after acquiring an additional 293 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $447,000 at the end of the most recent reporting period.

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

McCormick & Company, Incorporated Price Performance

MKC stock opened at $77.86 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1 year low of $62.54 and a 1 year high of $85.49. The firm has a 50-day moving average of $81.16 and a 200 day moving average of $75.91. The company has a market cap of $20.92 billion, a P/E ratio of 28.42, 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, beating analysts’ consensus estimates of $0.68 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current 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 paid a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.16%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Analyst Upgrades and Downgrades

MKC has been the subject of several recent research reports. Bank of America boosted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased 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 report on Wednesday, October 2nd. TD Cowen boosted their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.