Concurrent Investment Advisors LLC Acquires 1,015 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Concurrent Investment Advisors LLC grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 20.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,911 shares of the company’s stock after acquiring an additional 1,015 shares during the period. Concurrent Investment Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $20,227,000. Hemenway Trust Co LLC boosted its holdings in McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after buying an additional 58,511 shares during the period. Wellington Management Group LLP boosted its holdings in McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after buying an additional 24,881 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after buying an additional 14,652 shares during the period. Finally, Qsemble Capital Management LP bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth $1,104,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.4 %

Shares of MKC stock opened at $81.27 on Tuesday. The stock has a market cap of $21.79 billion, a P/E ratio of 27.74, a PEG ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $76.35 and its two-hundred day simple moving average is $78.46.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. Analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MKC has been the subject of several recent analyst reports. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays dropped their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.80% of the company’s stock.

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.