Symphony Financial Ltd. Co. Makes New $475,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

Symphony Financial Ltd. Co. bought a new position in McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,710 shares of the company’s stock, valued at approximately $475,000.

A number of other hedge funds have also added to or reduced their stakes in MKC. Point72 Asset Management L.P. grew its stake in McCormick & Company, Incorporated by 97,525.5% in the 2nd 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 in the last quarter. Nuance Investments LLC bought a new position in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $73,160,000. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Marshall Wace LLP acquired a new stake in McCormick & Company, Incorporated in the second quarter valued at approximately $51,286,000. Finally, Millennium Management LLC boosted its stake in McCormick & Company, Incorporated by 111.2% in the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after acquiring an additional 386,320 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

McCormick & Company, Incorporated Trading Up 1.0 %

Shares of McCormick & Company, Incorporated stock opened at $78.86 on Wednesday. The stock has a market cap of $21.18 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 3.66 and a beta of 0.77. 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 firm has a fifty day moving average price of $81.08 and a 200 day moving average price of $75.84. McCormick & Company, Incorporated has a 1 year low of $59.45 and a 1 year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released 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 company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business earned $0.65 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Equities research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.13%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

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.