Inspire Investing LLC Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Inspire Investing LLC decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 35.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,712 shares of the company’s stock after selling 2,049 shares during the period. Inspire Investing LLC’s holdings in McCormick & Company, Incorporated were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MKC. Capital Advisors Ltd. LLC grew its holdings in shares of McCormick & Company, Incorporated by 87.5% in the second 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 bought a new position in McCormick & Company, Incorporated in the 2nd quarter worth about $29,000. 1620 Investment Advisors Inc. purchased a new position in shares of McCormick & Company, Incorporated during the second quarter worth approximately $35,000. Farmers & Merchants Investments Inc. raised its stake in shares of 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 acquiring an additional 228 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $67,000. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. TD Cowen reduced their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Citigroup upgraded 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. Finally, Bank of America increased their target price on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. One equities 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $76.14.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s 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 directly owns 199,258 shares in the company, valued at approximately $14,944,350. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $83.76 on Wednesday. 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. The company has a 50-day simple moving average of $79.12 and a two-hundred day simple moving average of $74.64. McCormick & Company, Incorporated has a one year low of $59.13 and a one 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.

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

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.