Larson Financial Group LLC Boosts Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Larson Financial Group LLC grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 90.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,879 shares of the company’s stock after buying an additional 1,368 shares during the period. Larson Financial Group LLC’s holdings in McCormick & Company, Incorporated were worth $237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. Capital Advisors Ltd. LLC raised its stake in McCormick & Company, Incorporated by 87.5% during the 2nd 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. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at approximately $28,000. OFI Invest Asset Management bought a new stake in McCormick & Company, Incorporated in the 2nd quarter worth approximately $29,000. 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated in the 2nd quarter worth approximately $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in McCormick & Company, Incorporated in the 2nd quarter worth approximately $39,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC opened at $77.77 on Thursday. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49. The business’s fifty day simple moving average is $79.21 and its 200-day simple moving average is $76.29. The company has a market capitalization of $20.87 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 3.53 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 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 return on equity of 15.30% and a net margin of 11.87%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.31%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 over the last quarter. 22.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MKC has been the topic of a number of research reports. Stifel Nicolaus lifted their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America lifted 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. Finally, TD Cowen boosted their target price on 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 research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.