Ritholtz Wealth Management Acquires 177 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Ritholtz Wealth Management increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.9% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 19,482 shares of the company’s stock after buying an additional 177 shares during the quarter. Ritholtz Wealth Management’s holdings in McCormick & Company, Incorporated were worth $1,603,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its position in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $29,000. 1620 Investment Advisors Inc. purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $35,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $39,000. Finally, Farmers & Merchants Investments Inc. lifted its position in shares of McCormick & Company, Incorporated by 40.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after buying an additional 228 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the director now owns 199,258 shares in the company, valued at $14,944,350. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $80.18 on Monday. The company has a market cap of $21.54 billion, a P/E ratio of 29.26, a P/E/G ratio of 3.66 and a beta of 0.77. 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 business’s 50 day moving average price is $80.66 and its 200-day moving average price is $75.67. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. The firm had revenue of $1.68 billion for 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 company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MKC shares. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Bank of America lifted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen lifted their price objective 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. Finally, Stifel Nicolaus lifted their target price 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. One research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.