McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,826 shares of the company’s stock after selling 710 shares during the period. L. Roy Papp & Associates LLP’s holdings in McCormick & Company, Incorporated were worth $3,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its position in 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 in the second quarter worth about $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $35,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $39,000. Finally, Friedenthal Financial acquired a new position in shares of McCormick & Company, Incorporated in the third quarter worth about $49,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

NYSE MKC traded down $0.91 during trading hours on Friday, hitting $77.86. 1,129,184 shares of the company’s stock traded hands, compared to its average volume of 1,927,726. McCormick & Company, Incorporated has a 52-week low of $62.54 and a 52-week high of $85.49. The company has a market capitalization of $20.89 billion, a PE ratio of 26.48, a PEG ratio of 3.62 and a beta of 0.77. 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’s 50-day moving average is $81.16 and its 200-day moving average is $75.90.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the company earned $0.65 EPS. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. Equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MKC. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research 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 stock a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus upped 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 report on Wednesday, October 2nd. Finally, Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.