Farther Finance Advisors LLC Boosts Position in McCormick & Company, Incorporated (NYSE:MKC)

Farther Finance Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,880 shares of the company’s stock after buying an additional 336 shares during the quarter. Farther Finance Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $481,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MKC. Capital Advisors Ltd. LLC raised its stake in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. OFI Invest Asset Management purchased a new position in McCormick & Company, Incorporated during the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at $35,000. VisionPoint Advisory Group LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $44,000. Finally, Hantz Financial Services Inc. bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth $67,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Cowen lowered their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. 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, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.25.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on 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 completion of the sale, 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 is accessible through this hyperlink. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Trading Up 1.5 %

Shares of McCormick & Company, Incorporated stock opened at $81.20 on Wednesday. The firm’s 50 day simple moving average is $75.29 and its two-hundred day simple moving average is $73.02. The firm has a market capitalization of $21.81 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 4.12 and a beta of 0.75. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $81.98. 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 earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $1.63 billion. During the same period in the prior year, the firm earned $0.60 EPS. The firm’s revenue was down 1.0% on a year-over-year basis. Analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

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.