Stiles Financial Services Inc Has $239,000 Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Stiles Financial Services Inc lessened its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,133 shares of the company’s stock after selling 418 shares during the period. Stiles Financial Services Inc’s holdings in McCormick & Company, Incorporated were worth $239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its holdings in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after purchasing an additional 1,114,706 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock worth $127,115,000 after buying an additional 568,276 shares during the period. Benjamin Edwards Inc. grew its position in shares of McCormick & Company, Incorporated by 2,778.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock worth $37,606,000 after buying an additional 441,048 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of McCormick & Company, Incorporated by 321.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock valued at $34,298,000 after acquiring an additional 343,070 shares in the last quarter. Finally, E. Ohman J or Asset Management AB lifted its position in shares of McCormick & Company, Incorporated by 3,499.8% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 334,777 shares of the company’s stock valued at $27,552,000 after acquiring an additional 325,477 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $78.43 on Monday. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 3.67 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $64.33 and a fifty-two week high of $85.49. The firm’s 50-day simple moving average is $76.70 and its 200 day simple moving average is $78.35.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.30%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated’s payout ratio is currently 61.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. raised their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Barclays cut their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.