Western Pacific Wealth Management LP Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Western Pacific Wealth Management LP bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,700 shares of the company’s stock, valued at approximately $140,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew 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 buying an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated during the 2nd quarter valued at about $29,000. 1620 Investment Advisors Inc. acquired a new position in McCormick & Company, Incorporated during the 2nd quarter valued at about $35,000. Strategic Investment Solutions Inc. IL bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $39,000. Finally, Friedenthal Financial purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter worth approximately $49,000. Institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the director now owns 40,436 shares of the company’s stock, valued at $3,174,226. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $76.34 on Friday. The business’s 50 day simple moving average is $81.02 and its 200 day simple moving average is $76.19. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The company has a market cap of $20.49 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.57 and a beta of 0.77. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results 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. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.20%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

McCormick & Company, Incorporated 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.