Advisors Preferred LLC Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Advisors Preferred LLC bought a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 103,278 shares of the company's stock, valued at approximately $8,495,000. McCormick & Company, Incorporated accounts for about 1.1% of Advisors Preferred LLC's investment portfolio, making the stock its 22nd largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in MKC. Hazlett Burt & Watson Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 2.8% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock valued at $382,000 after purchasing an additional 137 shares in the last quarter. Sage Capital Advisors llc increased its stake in shares of McCormick & Company, Incorporated by 2.8% in the first quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock worth $413,000 after acquiring an additional 137 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of McCormick & Company, Incorporated by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock worth $3,278,000 after acquiring an additional 139 shares during the last quarter. ST Germain D J Co. Inc. increased its position in McCormick & Company, Incorporated by 1.8% during the first quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock worth $643,000 after buying an additional 140 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its position in McCormick & Company, Incorporated by 1.3% during the first quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock worth $912,000 after buying an additional 146 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MKC. UBS Group started coverage on shares of McCormick & Company, Incorporated in a report on Monday, June 16th. They set a "neutral" rating and a $83.00 price target for the company. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Citigroup cut their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of "Hold" and a consensus target price of $84.13.

McCormick & Company, Incorporated Trading Up 0.2%

MKC stock traded up $0.17 during trading on Friday, hitting $71.62. The company had a trading volume of 1,974,295 shares, compared to its average volume of 2,201,190. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $73.37 and a 200-day moving average price of $76.02. McCormick & Company, Incorporated has a 12 month low of $69.98 and a 12 month high of $86.24. The stock has a market cap of $19.22 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 3.44 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The business's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

Insiders Place Their Bets

In related news, insider Katherine Jenkins sold 7,642 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 23.80% of the company's stock.

About McCormick & Company, Incorporated

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.