NewEdge Advisors LLC Reduces Holdings in McCormick & Company, Incorporated (NYSE:MKC)

NewEdge Advisors LLC trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,926 shares of the company’s stock after selling 1,071 shares during the quarter. NewEdge Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $1,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Capital Advisors Ltd. LLC raised its holdings in McCormick & Company, Incorporated by 87.5% in 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 in the last quarter. OFI Invest Asset Management bought a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at approximately $29,000. 1620 Investment Advisors Inc. purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. Farmers & Merchants Investments Inc. lifted its stake in shares of McCormick & Company, Incorporated by 40.3% in the 2nd 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. bought a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $67,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 199,258 shares in the company, valued at $14,944,350. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MKC. Bank of America increased their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday. TD Cowen upped their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday. Stifel Nicolaus lifted their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price target 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, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $80.61 on Friday. The company has a market cap of $21.65 billion, a price-to-earnings ratio of 29.42, a P/E/G ratio of 4.24 and a beta of 0.77. The business’s fifty day simple moving average is $80.43 and its two-hundred day simple moving average is $75.37. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $85.49. 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 data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm posted $0.65 earnings per share. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. Research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.08%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

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.