Taylor Frigon Capital Management LLC Has $1.64 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Taylor Frigon Capital Management LLC decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,882 shares of the company’s stock after selling 543 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,636,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its holdings in McCormick & Company, Incorporated by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock worth $2,094,000 after purchasing an additional 135 shares in the last quarter. HCR Wealth Advisors boosted its position in shares of McCormick & Company, Incorporated by 2.6% during the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after purchasing an additional 135 shares in the last quarter. Wallington Asset Management LLC grew its stake in shares of McCormick & Company, Incorporated by 3.4% in the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after buying an additional 136 shares during the period. Aptus Capital Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after buying an additional 141 shares during the period. Finally, KFG Wealth Management LLC increased its position in McCormick & Company, Incorporated by 1.5% in the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after buying an additional 156 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the topic of several recent research reports. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America lifted their price target on shares of 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 upped their price objective 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. Finally, Stifel Nicolaus raised their price objective 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. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Stock Down 0.5 %

NYSE:MKC traded down $0.37 during trading hours on Thursday, hitting $79.00. 348,271 shares of the company traded hands, compared to its average volume of 1,925,622. 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 market cap of $21.22 billion, a PE ratio of 28.97, a PEG ratio of 3.66 and a beta of 0.77. The firm’s 50-day simple moving average is $81.10 and its 200-day simple moving average is $75.86. McCormick & Company, Incorporated has a one year low of $62.10 and a one 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 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned $0.65 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were issued 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 was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

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.