Optas LLC Makes New $211,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

Optas LLC acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,564 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of McCormick & Company, Incorporated by 0.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 656,686 shares of the company’s stock valued at $50,440,000 after acquiring an additional 3,584 shares during the period. State of Alaska Department of Revenue raised its position in McCormick & Company, Incorporated by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock valued at $2,094,000 after purchasing an additional 135 shares during the period. Norden Group LLC purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter worth about $284,000. Private Advisor Group LLC boosted its position in shares of McCormick & Company, Incorporated by 3.0% in the first quarter. Private Advisor Group LLC now owns 55,131 shares of the company’s stock worth $4,235,000 after buying an additional 1,599 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of McCormick & Company, Incorporated by 93.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,280 shares of the company’s stock valued at $6,912,000 after buying an additional 41,686 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $78.75 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The stock has a market capitalization of $21.13 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 3.57 and a beta of 0.77. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The company’s 50-day simple moving average is $81.11 and its 200-day simple moving average is $76.12.

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. 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 business posted $0.65 EPS. McCormick & Company, Incorporated’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal 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 paid a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.13%. McCormick & Company, Incorporated’s payout ratio is 57.14%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MKC. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America upped their price objective on shares of 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 target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.