Spring Capital Management LLC Acquires 7,843 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Spring Capital Management LLC increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 15.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,876 shares of the company's stock after buying an additional 7,843 shares during the quarter. McCormick & Company, Incorporated accounts for approximately 3.2% of Spring Capital Management LLC's holdings, making the stock its 17th largest holding. Spring Capital Management LLC's holdings in McCormick & Company, Incorporated were worth $4,378,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company's stock worth $2,390,261,000 after buying an additional 883,327 shares during the period. Champlain Investment Partners LLC increased its holdings in McCormick & Company, Incorporated by 4.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company's stock worth $246,646,000 after purchasing an additional 136,080 shares in the last quarter. ProShare Advisors LLC increased its holdings in McCormick & Company, Incorporated by 2.4% during the 1st quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company's stock worth $201,442,000 after purchasing an additional 60,512 shares in the last quarter. Nuance Investments LLC increased its holdings in McCormick & Company, Incorporated by 10.5% during the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company's stock worth $74,644,000 after purchasing an additional 99,741 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in McCormick & Company, Incorporated by 97,525.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company's stock worth $69,256,000 after purchasing an additional 975,255 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research reports. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Bank of America increased their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. TD Cowen increased their target price on 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 increased their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded up $0.51 during midday trading on Wednesday, reaching $79.37. 1,883,127 shares of the company were exchanged, compared to its average volume of 1,933,317. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a one year low of $61.12 and a one year high of $85.49. The stock has a market cap of $21.32 billion, a P/E ratio of 28.97, a PEG ratio of 3.66 and a beta of 0.77. The stock's 50-day moving average price is $81.10 and its 200-day moving average price is $75.86.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.12%. 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.