L. Roy Papp & Associates LLP Lowers Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

L. Roy Papp & Associates LLP reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,626 shares of the company’s stock after selling 200 shares during the period. L. Roy Papp & Associates LLP’s holdings in McCormick & Company, Incorporated were worth $2,945,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at approximately $28,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $38,000. Kennebec Savings Bank purchased a new position in McCormick & Company, Incorporated during the third quarter valued at $40,000. Finally, Friedenthal Financial acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $49,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Up 0.7 %

Shares of McCormick & Company, Incorporated stock opened at $77.20 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock’s 50 day simple moving average is $76.66 and its 200-day simple moving average is $78.40. The stock has a market cap of $20.70 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.43%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, Barclays lowered their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.