Moors & Cabot Inc. Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Moors & Cabot Inc. acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,354 shares of the company’s stock, valued at approximately $238,000.

Other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its holdings in 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 purchasing an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $29,000. 1620 Investment Advisors Inc. acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. Farmers & Merchants Investments Inc. lifted its holdings in 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 purchasing an additional 228 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $67,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen dropped their price target 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 lifted their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $77.38.

McCormick & Company, Incorporated Trading Down 0.4 %

NYSE MKC opened at $82.99 on Friday. The business’s 50-day moving average price is $78.70 and its two-hundred day moving average price is $74.35. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $85.49. The firm has a market capitalization of $22.29 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 4.26 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.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The business’s revenue was down 1.0% on a year-over-year basis. On average, analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is 61.31%.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.90% of the stock is owned by company insiders.

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.