Mercer Global Advisors Inc. ADV grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 6.8% during the second quarter, HoldingsChannel reports. The firm owned 21,338 shares of the company’s stock after purchasing an additional 1,350 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in McCormick & Company, Incorporated were worth $1,514,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC increased its holdings in shares of McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $35,000. Farmers & Merchants Investments Inc. increased its holdings in shares of McCormick & Company, Incorporated by 40.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after buying an additional 228 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $67,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.
McCormick & Company, Incorporated Stock Up 0.7 %
Shares of McCormick & Company, Incorporated stock opened at $83.76 on Wednesday. The business has a 50-day moving average of $79.12 and a 200-day moving average of $74.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The company 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 1-year low of $59.13 and a 1-year high of $85.49.
Insider Activity
In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the director now 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 the SEC website. Insiders own 22.90% of the company’s stock.
Analysts Set New Price Targets
MKC has been the subject of a number of research analyst reports. TD Cowen dropped their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Bank of America upped their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $76.14.
Read Our Latest Analysis on MKC
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.
Featured Stories
- Five stocks we like better than McCormick & Company, Incorporated
- Compound Interest and Why It Matters When Investing
- Biohaven Stock Soars on Drug Trial Results: Time to Jump In?
- 3 REITs to Buy and Hold for the Long Term
- Is AMD a Legitimate Threat to NVIDIA? What Investors Should Watch
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Novo Nordisk’s Setback Won’t Last: A Game-Changing Drug Emerges
Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McCormick & Company, Incorporated (NYSE:MKC – Free Report).
Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.