Hazlett Burt & Watson Inc. Grows Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Hazlett Burt & Watson Inc. lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 129.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,903 shares of the company’s stock after purchasing an additional 2,762 shares during the period. Hazlett Burt & Watson Inc.’s holdings in McCormick & Company, Incorporated were worth $406,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Point72 Asset Management L.P. lifted its position in McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after purchasing an additional 975,255 shares in the last quarter. Nuance Investments LLC purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at about $73,160,000. Vanguard Group Inc. grew its stake in shares of McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after acquiring an additional 883,327 shares during the period. Marshall Wace LLP bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at approximately $51,286,000. Finally, Millennium Management LLC increased its holdings in McCormick & Company, Incorporated by 111.2% in the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after acquiring an additional 386,320 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC traded down $0.41 on Monday, reaching $78.34. The company had a trading volume of 203,384 shares, compared to its average volume of 1,906,914. The stock has a market capitalization of $21.02 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 3.57 and a beta of 0.77. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average price is $81.11 and its 200 day moving average price is $76.12.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.14%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

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

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.