McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,338 shares of the company’s stock after purchasing an additional 1,350 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in McCormick & Company, Incorporated were worth $1,514,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC increased its position 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 period. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated during the 2nd quarter worth approximately $29,000. 1620 Investment Advisors Inc. acquired a new position in McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. Farmers & Merchants Investments Inc. increased its position 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 period. Finally, Hantz Financial Services Inc. acquired a new position in McCormick & Company, Incorporated during the 2nd quarter worth approximately $67,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was 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 approximately $14,944,350. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 22.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Bank of America boosted their target price on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. 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 note on Wednesday, June 12th. Finally, TD Cowen decreased their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $76.14.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $83.76 on Wednesday. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $85.49. 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 stock’s 50 day moving average price is $79.12 and its 200 day moving average price is $74.64. The firm has a market cap of $22.50 billion, a P/E ratio of 30.57, a PEG ratio of 4.26 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (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 prior year, the company earned $0.60 EPS. McCormick & Company, Incorporated’s revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

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.