Nicholson Wealth Management Group LLC Buys New Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Nicholson Wealth Management Group LLC purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,239 shares of the company’s stock, valued at approximately $596,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its stake in 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 acquiring an additional 175 shares during the period. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated during the second quarter worth $29,000. 1620 Investment Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated during the second quarter valued at $35,000. Strategic Investment Solutions Inc. IL bought a new position in McCormick & Company, Incorporated during 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 own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $78.77 on Friday. The company has a market cap of $21.16 billion, a PE ratio of 28.75, a PEG ratio of 3.66 and a beta of 0.77. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 1 year low of $62.10 and a 1 year high of $85.49. The company’s 50-day moving average is $81.10 and its two-hundred day moving average is $75.86.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data 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. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business posted $0.65 earnings per share. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. Equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business 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 of this dividend 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 currently 61.31%.

Wall Street Analyst Weigh In

Several analysts have recently commented on MKC shares. 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. 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 report on Wednesday, October 2nd. TD Cowen boosted their target price 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. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.57.

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.