First Pacific Financial Purchases 488 Shares of McCormick & Company, Incorporated (NYSE:MKC)

First Pacific Financial grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 14,271 shares of the company’s stock after buying an additional 488 shares during the quarter. First Pacific Financial’s holdings in McCormick & Company, Incorporated were worth $1,174,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC raised its holdings in shares of 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 purchasing an additional 175 shares during the period. OFI Invest Asset Management acquired a new position in shares of McCormick & Company, Incorporated during the second quarter valued at about $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated during the second quarter valued at about $35,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of McCormick & Company, Incorporated during the second quarter valued at about $39,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of McCormick & Company, Incorporated by 40.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MKC shares. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. TD Cowen upped their price objective on shares of 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 upped their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Stock Up 0.5 %

Shares of MKC traded up $0.44 on Tuesday, reaching $81.49. The company’s stock had a trading volume of 1,224,050 shares, compared to its average volume of 1,935,540. McCormick & Company, Incorporated has a twelve month low of $59.45 and a twelve month high of $85.49. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average of $80.76 and a 200-day moving average of $75.70. The stock has a market capitalization of $21.89 billion, a PE ratio of 29.58, a PEG ratio of 3.66 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the firm posted $0.65 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is 61.31%.

About McCormick & Company, Incorporated

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.