U.S. Capital Wealth Advisors LLC Purchases Shares of 11,853 McCormick & Company, Incorporated $MKC

Key Points

• U.S. Capital Wealth Advisors LLC has acquired a stake in McCormick & Company, purchasing 11,853 shares valued at approximately $899,000.
• Despite slightly disappointing revenue results, McCormick reported earnings per share of $0.69, exceeding consensus estimates by $0.04.
• Analysts have adjusted their ratings, with Wall Street Zen downgrading the stock from "hold" to "sell", while JPMorgan Chase & Co. upgraded it to "overweight" with a target price increase.

U.S. Capital Wealth Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,853 shares of the company's stock, valued at approximately $899,000.

Several other institutional investors and hedge funds have also modified their holdings of MKC. Two Sigma Investments LP purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth approximately $1,518,000. Vident Advisory LLC lifted its stake in shares of McCormick & Company, Incorporated by 14.1% in the 4th quarter. Vident Advisory LLC now owns 3,996 shares of the company's stock valued at $305,000 after purchasing an additional 495 shares during the period. Forum Financial Management LP acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $315,000. Mackenzie Financial Corp boosted its holdings in McCormick & Company, Incorporated by 6.9% during the fourth quarter. Mackenzie Financial Corp now owns 23,521 shares of the company's stock worth $1,793,000 after buying an additional 1,514 shares in the last quarter. Finally, Ascent Group LLC grew its position in McCormick & Company, Incorporated by 16.2% during the fourth quarter. Ascent Group LLC now owns 6,033 shares of the company's stock valued at $460,000 after buying an additional 841 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $65.27 on Thursday. The company has a fifty day simple moving average of $69.69 and a 200-day simple moving average of $73.65. The firm has a market capitalization of $17.52 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 3.19 and a beta of 0.65. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 52-week low of $63.66 and a 52-week high of $86.24.

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

Analysts Set New Price Targets

MKC has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Stifel Nicolaus reduced their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. UBS Group dropped their price objective on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Friday, August 22nd. Citigroup reduced their target price on 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. Finally, JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $69.00 to $83.00 in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $84.25.

McCormick & Company, Incorporated Company Profile

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.

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