Prio Wealth Limited Partnership Increases Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Prio Wealth Limited Partnership increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 16.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,539 shares of the company’s stock after purchasing an additional 1,045 shares during the quarter. Prio Wealth Limited Partnership’s holdings in McCormick & Company, Incorporated were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

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

McCormick & Company, Incorporated Trading Down 1.8 %

Shares of NYSE MKC traded down $1.47 during midday trading on Monday, hitting $78.71. The stock had a trading volume of 383,271 shares, compared to its average volume of 1,919,399. The company has a market capitalization of $21.14 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 3.66 and a beta of 0.77. McCormick & Company, Incorporated has a 1-year low of $59.45 and a 1-year 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 company has a fifty day moving average price of $81.01 and a 200 day moving average price of $75.80.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data 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 business had revenue of $1.68 billion for the quarter, compared to analyst estimates 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 was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. On average, analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 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.