Eastern Bank Invests $70,000 in McCormick & Company, Incorporated (NYSE:MKC)

Eastern Bank purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 854 shares of the company’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its stake in McCormick & Company, Incorporated by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock valued at $2,094,000 after buying an additional 135 shares in the last quarter. HCR Wealth Advisors lifted its stake in McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock valued at $381,000 after buying an additional 135 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after buying an additional 141 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its stake in McCormick & Company, Incorporated by 1.0% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock valued at $1,193,000 after buying an additional 156 shares in the last quarter. Finally, KFG Wealth Management LLC lifted its stake in McCormick & Company, Incorporated by 1.5% in the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after buying an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MKC. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Bank of America boosted 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 boosted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.57.

McCormick & Company, Incorporated Trading Down 1.2 %

NYSE:MKC opened at $77.86 on Friday. The business’s 50-day moving average is $81.14 and its two-hundred day moving average is $75.88. 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 12 month low of $62.54 and a 12 month high of $85.49. The firm has a market capitalization of $20.89 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company posted $0.65 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. Research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

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.