Transamerica Financial Advisors Inc. lowered its stake in shares of McCormick & Company (NYSE:MKC) by 5.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,093 shares of the company’s stock after selling 693 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in McCormick & Company were worth $1,393,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Tiverton Asset Management LLC acquired a new position in McCormick & Company during the 1st quarter worth $105,000. Captrust Financial Advisors acquired a new stake in shares of McCormick & Company in the fourth quarter valued at $108,000. Signaturefd LLC acquired a new stake in shares of McCormick & Company in the first quarter valued at $116,000. Pratt Collard Advisory Partners LLC acquired a new stake in shares of McCormick & Company in the fourth quarter valued at $204,000. Finally, Advisory Services Network LLC lifted its holdings in shares of McCormick & Company by 307.7% in the fourth quarter. Advisory Services Network LLC now owns 2,006 shares of the company’s stock valued at $204,000 after buying an additional 1,514 shares during the period. Institutional investors and hedge funds own 78.52% of the company’s stock.
Several brokerages have recently weighed in on MKC. Zacks Investment Research upgraded McCormick & Company from a “sell” rating to a “hold” rating in a report on Monday. Citigroup upped their price objective on McCormick & Company from $113.00 to $114.00 and gave the company a “neutral” rating in a report on Wednesday, March 28th. Credit Suisse Group upped their price objective on McCormick & Company from $120.00 to $122.00 and gave the company an “outperform” rating in a report on Wednesday, March 28th. UBS Group upped their price objective on McCormick & Company from $106.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, March 28th. Finally, Sanford C. Bernstein upped their price objective on McCormick & Company from $113.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $111.89.
Shares of McCormick & Company traded up $1.14, reaching $105.86, on Thursday, MarketBeat reports. 829,451 shares of the company were exchanged, compared to its average volume of 1,019,488. The firm has a market capitalization of $13.79 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 2.38 and a beta of 0.57. The company has a quick ratio of 0.42, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. McCormick & Company has a fifty-two week low of $90.25 and a fifty-two week high of $111.46.
McCormick & Company (NYSE:MKC) last announced its earnings results on Tuesday, March 27th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.09. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. McCormick & Company had a return on equity of 23.39% and a net margin of 16.04%. McCormick & Company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 earnings per share. analysts expect that McCormick & Company will post 4.92 EPS for the current year.
About McCormick & Company
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
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