J.W. Cole Advisors Inc. Trims Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

J.W. Cole Advisors Inc. decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,296 shares of the company’s stock after selling 319 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System lifted its holdings in McCormick & Company, Incorporated by 2.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after purchasing an additional 7,898 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of McCormick & Company, Incorporated by 470.6% in the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after buying an additional 31,306 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of McCormick & Company, Incorporated by 333.8% in the first quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock worth $5,452,000 after buying an additional 54,616 shares in the last quarter. Sei Investments Co. boosted its position in shares of McCormick & Company, Incorporated by 11.8% in the first quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after acquiring an additional 16,420 shares during the period. Finally, Boston Trust Walden Corp grew its stake in McCormick & Company, Incorporated by 1.1% during the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock valued at $44,882,000 after acquiring an additional 6,588 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $77.48 on Wednesday. The company’s fifty day moving average price is $81.15 and its 200-day moving average price is $75.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The firm has a market capitalization of $20.81 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 3.62 and a beta of 0.77. McCormick & Company, Incorporated has a one year low of $62.72 and a one year high of $85.49.

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. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.17%. McCormick & Company, Incorporated’s dividend payout ratio is 61.31%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MKC. Bank of America increased 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 note on Wednesday, October 2nd. TD Cowen upped their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective 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 report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target 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.