Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 25.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,036 shares of the company’s stock after selling 6,473 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in McCormick & Company, Incorporated were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its position in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the last quarter. OFI Invest Asset Management purchased a new position in McCormick & Company, Incorporated in the 2nd quarter worth about $29,000. 1620 Investment Advisors Inc. purchased a new position in McCormick & Company, Incorporated in the 2nd quarter worth about $35,000. Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated in the 2nd quarter worth about $39,000. Finally, Friedenthal Financial purchased a new position in McCormick & Company, Incorporated in the 3rd quarter worth about $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MKC. Bank of America boosted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen boosted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Trading Up 0.7 %

Shares of NYSE:MKC opened at $77.99 on Thursday. The stock has a 50 day moving average of $81.13 and a 200 day moving average of $76.00. The company has a market cap of $20.95 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 3.62 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 has a 12-month low of $63.28 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $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 Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.15%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

About McCormick & Company, Incorporated

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.