Hazlett Burt & Watson Inc. Grows Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Hazlett Burt & Watson Inc. grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 129.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,903 shares of the company’s stock after buying an additional 2,762 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in McCormick & Company, Incorporated were worth $406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in 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 buying an additional 135 shares during the last quarter. HCR Wealth Advisors lifted its holdings 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 during the last quarter. Wallington Asset Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 3.4% in the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after acquiring an additional 136 shares during the last quarter. Aptus Capital Advisors LLC boosted 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 valued at $357,000 after purchasing an additional 141 shares in the last quarter. Finally, KFG Wealth Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 1.5% during the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after purchasing an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on MKC shares. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America upped 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. Stifel Nicolaus increased 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. Finally, TD Cowen boosted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Stock Down 0.5 %

MKC stock traded down $0.41 on Monday, reaching $78.34. 203,384 shares of the company traded hands, compared to its average volume of 1,906,914. The firm has a fifty day simple moving average of $81.11 and a 200-day simple moving average of $76.12. The company has a market cap of $21.02 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 3.57 and a beta of 0.77. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating 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 analyst estimates of $1.67 billion. During the same period last year, the business earned $0.65 EPS. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. Research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were issued a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.14%. McCormick & Company, Incorporated’s payout ratio is 57.14%.

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.