International Assets Investment Management LLC Grows Position in McCormick & Company, Incorporated (NYSE:MKC)

International Assets Investment Management LLC raised its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 7,350.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,865 shares of the company's stock after purchasing an additional 90,632 shares during the quarter. International Assets Investment Management LLC's holdings in McCormick & Company, Incorporated were worth $7,560,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. Bank of America raised their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Finally, TD Cowen upped their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $79.57.

McCormick & Company, Incorporated Price Performance

MKC stock traded up $0.45 during trading on Friday, reaching $78.69. 845,128 shares of the company were exchanged, compared to its average volume of 1,911,779. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The stock's 50 day moving average price is $81.12 and its 200 day moving average price is $76.01. McCormick & Company, Incorporated has a 52-week low of $63.67 and a 52-week high of $85.49. The company has a market cap of $21.12 billion, a P/E ratio of 26.61, a PEG ratio of 3.56 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results 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 company 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%. McCormick & Company, Incorporated's revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. As a group, analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.13%. McCormick & Company, Incorporated's dividend payout ratio is presently 57.14%.

McCormick & Company, Incorporated 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.