Spring Capital Management LLC Buys 7,843 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Spring Capital Management LLC increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 15.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,876 shares of the company’s stock after acquiring an additional 7,843 shares during the period. McCormick & Company, Incorporated comprises about 3.2% of Spring Capital Management LLC’s portfolio, making the stock its 17th biggest position. Spring Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $4,378,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Ballentine Partners LLC raised its position in McCormick & Company, Incorporated by 6.3% during the 1st quarter. Ballentine Partners LLC now owns 5,300 shares of the company’s stock worth $407,000 after purchasing an additional 313 shares during the last quarter. Cardinal Capital Management boosted its holdings in McCormick & Company, Incorporated by 10.1% in the first quarter. Cardinal Capital Management now owns 89,369 shares of the company’s stock worth $6,864,000 after acquiring an additional 8,228 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in McCormick & Company, Incorporated by 13.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 121,333 shares of the company’s stock valued at $9,320,000 after acquiring an additional 14,641 shares during the period. WoodTrust Financial Corp increased its holdings in shares of McCormick & Company, Incorporated by 12.4% during the first quarter. WoodTrust Financial Corp now owns 5,450 shares of the company’s stock valued at $419,000 after acquiring an additional 600 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in shares of McCormick & Company, Incorporated during the first quarter worth approximately $215,000. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on MKC shares. TD Cowen lifted their price target 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. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America increased their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Stock Performance

MKC traded down $0.04 during midday trading on Wednesday, reaching $78.82. The company had a trading volume of 84,017 shares, compared to its average volume of 1,924,486. McCormick & Company, Incorporated has a 12-month low of $61.12 and a 12-month high of $85.49. The business has a 50-day moving average price of $81.08 and a two-hundred day moving average price of $75.84. The stock has a market cap of $21.17 billion, a PE ratio of 28.78, a P/E/G ratio of 3.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 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 company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. McCormick & Company, Incorporated’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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 dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

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.