Private Advisor Group LLC Has $4.07 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Private Advisor Group LLC boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,323 shares of the company’s stock after purchasing an additional 2,192 shares during the period. Private Advisor Group LLC’s holdings in McCormick & Company, Incorporated were worth $4,067,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC grew its holdings 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 purchasing an additional 175 shares during the last quarter. OFI Invest Asset Management bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $29,000. 1620 Investment Advisors Inc. acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at approximately $35,000. Farmers & Merchants Investments Inc. raised its stake in shares of McCormick & Company, Incorporated by 40.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after acquiring an additional 228 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of McCormick & Company, Incorporated during the second quarter valued at $67,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $83.81 on Wednesday. The firm has a market cap of $22.51 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 4.27 and a beta of 0.76. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $76.60 and a 200-day moving average price of $73.56. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $84.50.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.00%. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction on 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 sale, the director now directly 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 at the SEC website. 22.90% of the stock is owned by insiders.

Analysts Set New Price Targets

MKC has been the topic of several analyst reports. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. TD Cowen decreased their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $76.25.

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.