Maryland Capital Advisors Inc. Reduces Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Maryland Capital Advisors Inc. trimmed its stake in McCormick & Company, Incorporated (NYSE:MKC) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,577 shares of the company’s stock after selling 183 shares during the period. Maryland Capital Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MKC. State of Alaska Department of Revenue increased its stake in shares of 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 worth $2,094,000 after acquiring an additional 135 shares in the last quarter. HCR Wealth Advisors increased its stake in shares of McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after acquiring an additional 135 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after acquiring an additional 141 shares in the last quarter. Taylor Frigon Capital Management LLC increased its stake in shares of 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 worth $1,193,000 after acquiring an additional 156 shares in the last quarter. Finally, KFG Wealth Management LLC increased its stake in shares of McCormick & Company, Incorporated by 1.5% in the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after acquiring an additional 156 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

MKC opened at $78.86 on Wednesday. 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 company has a market cap of $21.18 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 3.66 and a beta of 0.77. The company’s 50 day moving average is $81.08 and its 200 day moving average is $75.84. McCormick & Company, Incorporated has a 12-month low of $59.45 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. On average, equities research analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.13%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Bank of America raised their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen raised 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 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 investment analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.