LifeGuide Financial Advisors LLC Makes New $1.15 Million Investment in McCormick & Company, Incorporated (NYSE:MKC)

LifeGuide Financial Advisors LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, Holdings Channel reports. The fund bought 16,164 shares of the company’s stock, valued at approximately $1,147,000. McCormick & Company, Incorporated accounts for approximately 0.6% of LifeGuide Financial Advisors LLC’s portfolio, making the stock its 18th largest holding.

Several other institutional investors also recently made changes to their positions in MKC. Capital Advisors Ltd. LLC raised its stake in shares of 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 buying an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at about $29,000. 1620 Investment Advisors Inc. acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at about $35,000. VisionPoint Advisory Group LLC acquired a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $44,000. Finally, Hantz Financial Services Inc. acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at about $67,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded up $1.05 during midday trading on Tuesday, hitting $81.08. 273,189 shares of the stock traded hands, compared to its average volume of 1,914,531. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $81.98. The firm has a market capitalization of $21.78 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 4.12 and a beta of 0.75. 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 business’s 50 day moving average price is $75.03 and its two-hundred day moving average price is $72.91.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly 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 net margin of 11.07% and a return on equity of 14.63%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.07%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

Analysts Set New Price Targets

Several analysts have commented on the company. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price target for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. TD Cowen dropped their price objective on shares of 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 investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $76.25.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 199,258 shares of the company’s stock, valued at $14,944,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 22.90% of the company’s stock.

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.