Vanguard Group Inc. increased its position in shares of McCormick & Co. (NYSE:MKC) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,084,604 shares of the company’s stock after buying an additional 219,950 shares during the period. Vanguard Group Inc. owned approximately 8.75% of McCormick & Co. worth $1,182,395,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of MKC. Coconut Grove Bank raised its stake in shares of McCormick & Co. by 1.1% in the second quarter. Coconut Grove Bank now owns 1,145 shares of the company’s stock worth $122,000 after buying an additional 12 shares during the period. Synovus Financial Corp raised its stake in McCormick & Co. by 0.6% in the second quarter. Synovus Financial Corp now owns 2,356 shares of the company’s stock valued at $250,000 after buying an additional 15 shares during the period. HM Capital Management LLC raised its stake in McCormick & Co. by 0.5% in the second quarter. HM Capital Management LLC now owns 3,641 shares of the company’s stock valued at $388,000 after buying an additional 17 shares during the period. Mission Wealth Management LLC raised its stake in McCormick & Co. by 1.0% in the second quarter. Mission Wealth Management LLC now owns 2,342 shares of the company’s stock valued at $250,000 after buying an additional 24 shares during the period. Finally, Citizens Financial Group Inc RI raised its stake in McCormick & Co. by 1.9% in the first quarter. Citizens Financial Group Inc RI now owns 2,719 shares of the company’s stock valued at $270,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 72.41% of the company’s stock.

McCormick & Co. (NYSE:MKC) traded up 0.20% on Tuesday, hitting $96.57. 35,797 shares of the stock traded hands. McCormick & Co. has a 12-month low of $77.65 and a 12-month high of $107.84. The stock has a 50-day moving average price of $100.46 and a 200 day moving average price of $99.05. The stock has a market cap of $12.23 billion, a P/E ratio of 28.64 and a beta of 0.48.

McCormick & Co. (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $1.06 billion for the quarter. McCormick & Co. had a net margin of 9.96% and a return on equity of 26.08%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, equities analysts expect that McCormick & Co. will post $3.75 EPS for the current fiscal year.

Several research firms recently weighed in on MKC. Zacks Investment Research upgraded shares of McCormick & Co. from a “hold” rating to a “buy” rating and set a $119.00 price objective on the stock in a research note on Friday, July 8th. Citigroup Inc. reiterated a “neutral” rating on shares of McCormick & Co. in a research note on Tuesday, July 5th. Deutsche Bank AG increased their price objective on shares of McCormick & Co. from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Saturday, July 2nd. Finally, Sanford C. Bernstein lowered shares of McCormick & Co. from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $113.00 to $104.00 in a research note on Friday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $97.24.

In other news, Director Patricia A. Little sold 3,750 shares of McCormick & Co. stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $107.22, for a total transaction of $402,075.00. Following the sale, the director now directly owns 13,227 shares in the company, valued at approximately $1,418,198.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gordon Mckenzie Stetz, Jr. sold 38,900 shares of McCormick & Co. stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $105.17, for a total transaction of $4,091,113.00. Following the sale, the chief financial officer now owns 94,012 shares in the company, valued at $9,887,242.04. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.

About McCormick & Co.

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company operates in two segments: consumer and industrial. Its brands in the Americas include McCormick, Lawry’s, Stubb’s, Club House, Zatarain’s, Thai Kitchen and Simply Asia.

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