Concurrent Investment Advisors LLC Acquires 7,460 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Concurrent Investment Advisors LLC lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 149.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,455 shares of the company’s stock after acquiring an additional 7,460 shares during the period. Concurrent Investment Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC increased its position in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of McCormick & Company, Incorporated during the second quarter worth about $29,000. 1620 Investment Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the second quarter worth about $35,000. VisionPoint Advisory Group LLC bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $44,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at about $67,000. 79.74% of the stock is owned by institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director now owns 199,258 shares in the company, valued at $14,944,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.3 %

McCormick & Company, Incorporated stock opened at $80.03 on Monday. The firm has a 50 day moving average price of $74.82 and a 200-day moving average price of $72.81. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $83.48. The company has a market capitalization of $21.50 billion, a P/E ratio of 29.21, a P/E/G ratio of 4.12 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. McCormick & Company, Incorporated’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Analysts Set New Price Targets

Several research firms recently weighed in on MKC. TD Cowen cut their price target on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $76.25.

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.