Mutual of America Capital Management LLC Reduces Position in McCormick & Company, Incorporated (NYSE:MKC)

Mutual of America Capital Management LLC cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 31,778 shares of the company’s stock after selling 1,208 shares during the quarter. Mutual of America Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in MKC. 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 valued at $27,000 after buying an additional 175 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at $29,000. 1620 Investment Advisors Inc. purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at $35,000. Farmers & Merchants Investments Inc. lifted its position in 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 purchasing an additional 228 shares during the period. Finally, Hantz Financial Services Inc. acquired a new position in McCormick & Company, Incorporated during the second quarter valued at $67,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $83.76 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The company has a fifty day moving average of $79.12 and a two-hundred day moving average of $74.64. The stock has a market capitalization of $22.50 billion, a PE ratio of 30.57, a P/E/G ratio of 4.26 and a beta of 0.76. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49.

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

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 that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MKC shares. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their target price for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. TD Cowen dropped 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 research report on Monday, June 24th. Finally, Bank of America upped their price objective on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, six have assigned 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 price target of $76.14.

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.