Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $1.50 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 25.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,036 shares of the company's stock after selling 6,473 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in McCormick & Company, Incorporated were worth $1,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MKC. Capital Advisors Ltd. LLC increased its holdings in shares of McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company's stock worth $27,000 after acquiring an additional 175 shares during the period. OFI Invest Asset Management bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated in the second quarter worth about $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at about $39,000. Finally, Friedenthal Financial acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MKC shares. Bank of America boosted their target price 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 increased 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 report on Wednesday, October 2nd. Stifel Nicolaus raised 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, BNP Paribas raised shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $79.57.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $0.30 during trading hours on Thursday, reaching $78.24. The stock had a trading volume of 1,917,536 shares, compared to its average volume of 1,916,834. McCormick & Company, Incorporated has a twelve month low of $63.28 and a twelve month high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The business's fifty day moving average is $81.13 and its two-hundred day moving average is $76.00. The company has a market cap of $21.00 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 3.62 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating 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 business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. McCormick & Company, Incorporated's quarterly revenue was down .3% on a year-over-year basis. As a group, research analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 57.14%.

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.