M3 Advisory Group LLC Acquires New Holdings in McCormick & Company, Incorporated (NYSE:MKC)

M3 Advisory Group LLC acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,900 shares of the company’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in McCormick & Company, Incorporated by 2.9% during the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the period. Champlain Investment Partners LLC raised its position in McCormick & Company, Incorporated by 4.4% in the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock worth $246,646,000 after acquiring an additional 136,080 shares during the period. ProShare Advisors LLC raised its position in McCormick & Company, Incorporated by 2.4% in the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock worth $201,442,000 after acquiring an additional 60,512 shares during the period. Nuance Investments LLC raised its position in McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after acquiring an additional 99,741 shares during the period. Finally, Point72 Asset Management L.P. raised its position in McCormick & Company, Incorporated by 97,525.5% in the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after acquiring an additional 975,255 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of NYSE:MKC traded up $0.17 during trading hours on Friday, hitting $80.19. The company’s stock had a trading volume of 190,756 shares, compared to its average volume of 1,920,894. McCormick & Company, Incorporated has a 52 week low of $59.45 and a 52 week 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. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 29.21, a P/E/G ratio of 3.66 and a beta of 0.77. The firm’s fifty day moving average price is $80.96 and its 200 day moving average price is $75.80.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $0.65 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. As a group, research analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.10%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Analyst Ratings Changes

MKC has been the topic of several recent analyst reports. TD Cowen raised their price objective 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. Bank of America lifted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note 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 research note on Wednesday, October 2nd. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.