Drive Wealth Management LLC Buys Shares of 2,502 McCormick & Company, Incorporated (NYSE:MKC)

Drive Wealth Management LLC purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 2,502 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MKC. Capital Advisors Ltd. LLC raised 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 acquiring an additional 175 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. OFI Invest Asset Management bought a new stake in McCormick & Company, Incorporated in the second quarter worth $29,000. 1620 Investment Advisors Inc. acquired a new position in McCormick & Company, Incorporated during the second quarter worth $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in McCormick & Company, Incorporated during the second quarter valued at about $39,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Up 0.9 %

MKC stock opened at $74.62 on Tuesday. The business has a fifty day moving average of $80.13 and a 200-day moving average of $76.22. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $20.03 billion, a P/E ratio of 25.38, a PEG ratio of 3.38 and a beta of 0.77. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.25%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is 57.14%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the transaction, the director now directly owns 40,436 shares in the company, valued at approximately $3,174,226. The trade was a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MKC. TD Cowen increased 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. Bank of America increased their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. Finally, BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $79.57.

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.