United Capital Financial Advisers LLC Has $366,000 Position in McCormick & Company, Incorporated (NYSE:MKC)

Posted by Defense World Staff on Mar 8th, 2023

United Capital Financial Advisers LLC increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC – Get Rating) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,134 shares of the company’s stock after purchasing an additional 222 shares during the quarter. United Capital Financial Advisers LLC’s holdings in McCormick & Company, Incorporated were worth $366,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MKC. American Century Companies Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 15.9% during the first quarter. American Century Companies Inc. now owns 5,072 shares of the company’s stock worth $506,000 after purchasing an additional 696 shares during the period. Vontobel Holding Ltd. lifted its stake in McCormick & Company, Incorporated by 28.1% in the first quarter. Vontobel Holding Ltd. now owns 6,448 shares of the company’s stock valued at $627,000 after acquiring an additional 1,415 shares during the last quarter. Sei Investments Co. lifted its stake in McCormick & Company, Incorporated by 1.0% in the first quarter. Sei Investments Co. now owns 108,139 shares of the company’s stock valued at $10,803,000 after acquiring an additional 1,048 shares during the last quarter. Prudential PLC acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $543,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $313,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of analyst reports. Sanford C. Bernstein upgraded shares of McCormick & Company, Incorporated from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Friday, January 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McCormick & Company, Incorporated from $83.00 to $74.00 and set a “hold” rating for the company in a research note on Friday, January 27th. JPMorgan Chase & Co. reduced their price objective on shares of McCormick & Company, Incorporated from $66.00 to $63.00 and set an “underweight” rating for the company in a research note on Friday, January 27th. BNP Paribas assumed coverage on shares of McCormick & Company, Incorporated in a research note on Tuesday, November 15th. They issued an “outperform” rating and a $94.00 price objective for the company. Finally, Exane BNP Paribas assumed coverage on shares of McCormick & Company, Incorporated in a research note on Tuesday, November 15th. They issued an “outperform” rating and a $94.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $82.83.

McCormick & Company, Incorporated Trading Down 1.5 %

Shares of MKC stock opened at $72.13 on Wednesday. McCormick & Company, Incorporated has a 1 year low of $71.19 and a 1 year high of $105.19. The firm’s fifty day simple moving average is $77.53 and its 200 day simple moving average is $79.61. The firm has a market capitalization of $19.34 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 4.06 and a beta of 0.56. The company has a current ratio of 0.70, a quick ratio of 0.30 and a debt-to-equity ratio of 0.78.

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last announced its earnings results on Thursday, January 26th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). McCormick & Company, Incorporated had a return on equity of 14.76% and a net margin of 10.74%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm posted $0.84 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.61 EPS for the current year.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $75.00, for a total value of $375,000.00. Following the sale, the director now owns 38,137 shares of the company’s stock, valued at approximately $2,860,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 19.00% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Company Profile

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McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.