Portland Global Advisors LLC boosted its stake in shares of McCormick & Co. (NYSE:MKC) by 4.8% during the second quarter, Holdings Channel reports. The firm owned 8,210 shares of the company’s stock after buying an additional 375 shares during the period. Portland Global Advisors LLC’s holdings in McCormick & Co. were worth $876,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Citizens Financial Group Inc RI boosted 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. Albert D Mason Inc. boosted its stake in McCormick & Co. by 0.7% in the second quarter. Albert D Mason Inc. now owns 28,720 shares of the company’s stock valued at $3,064,000 after buying an additional 191 shares during the period. Conning Inc. boosted its stake in McCormick & Co. by 13.3% in the second quarter. Conning Inc. now owns 3,333 shares of the company’s stock valued at $356,000 after buying an additional 390 shares during the period. Douglass Winthrop Advisors LLC boosted its stake in McCormick & Co. by 20.0% in the second quarter. Douglass Winthrop Advisors LLC now owns 3,000 shares of the company’s stock valued at $320,000 after buying an additional 500 shares during the period. Finally, Raymond James Trust N.A. boosted its stake in McCormick & Co. by 11.9% in the first quarter. Raymond James Trust N.A. now owns 4,761 shares of the company’s stock valued at $474,000 after buying an additional 508 shares during the period. 72.48% of the stock is owned by institutional investors.

McCormick & Co. (NYSE:MKC) traded up 0.76% on Thursday, reaching $97.20. The company’s stock had a trading volume of 546,379 shares. The company has a market cap of $12.31 billion, a P/E ratio of 28.83 and a beta of 0.48. The stock’s 50 day moving average price is $100.15 and its 200 day moving average price is $99.05. McCormick & Co. has a 12 month low of $77.65 and a 12 month high of $107.84.

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

Several equities research analysts have recently commented on the company. Zacks Investment Research cut McCormick & Co. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Deutsche Bank AG reissued a “buy” rating and issued a $113.00 target price (up from $110.00) on shares of McCormick & Co. in a research note on Sunday, June 26th. Sanford C. Bernstein cut McCormick & Co. from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $113.00 to $104.00 in a research note on Friday, September 16th. They noted that the move was a valuation call. Finally, Citigroup Inc. reissued a “neutral” rating on shares of McCormick & Co. in a research note on Tuesday, July 5th. 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. McCormick & Co. has a consensus rating of “Hold” and an average target price of $97.24.

In other news, Director Patricia A. Little sold 3,750 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $107.22, for a total value of $402,075.00. Following the completion of the transaction, the director now directly owns 13,227 shares in the company, valued at approximately $1,418,198.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gordon Mckenzie Stetz, Jr. sold 38,900 shares of the stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $105.17, for a total value of $4,091,113.00. Following the completion of the transaction, the chief financial officer now owns 94,012 shares of the company’s stock, valued at $9,887,242.04. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.

McCormick & Co. Company Profile

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.

5 Day Chart for NYSE:MKC

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