Meridian Wealth Management LLC Makes New $534,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

Meridian Wealth Management LLC bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,489 shares of the company's stock, valued at approximately $534,000.

Other large investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its stake in shares of McCormick & Company, Incorporated by 10.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,616 shares of the company's stock worth $349,000 after purchasing an additional 419 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of McCormick & Company, Incorporated by 1.1% in the first quarter. California State Teachers Retirement System now owns 410,913 shares of the company's stock worth $31,562,000 after buying an additional 4,397 shares during the period. Tidal Investments LLC grew its stake in shares of McCormick & Company, Incorporated by 32.3% during the 1st quarter. Tidal Investments LLC now owns 18,922 shares of the company's stock valued at $1,448,000 after acquiring an additional 4,619 shares during the period. Plato Investment Management Ltd increased its holdings in McCormick & Company, Incorporated by 1,426.3% in the 1st quarter. Plato Investment Management Ltd now owns 3,419 shares of the company's stock worth $263,000 after acquiring an additional 3,195 shares in the last quarter. Finally, Swedbank AB bought a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $16,386,000. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on MKC. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a report 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. Finally, TD Cowen boosted their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded down $0.35 during mid-day trading on Monday, hitting $77.23. 2,418,232 shares of the company's stock traded hands, compared to its average volume of 1,907,619. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49. The company's 50-day moving average is $79.62 and its two-hundred day moving average is $76.26. The company has a market capitalization of $20.73 billion, a P/E ratio of 26.50, a PEG ratio of 3.54 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a $0.45 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.33%. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. McCormick & Company, Incorporated's dividend payout ratio is currently 61.22%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the sale, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by insiders.

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.