SBI Securities Co. Ltd. Makes New $234,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

SBI Securities Co. Ltd. bought a new position in McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 3,067 shares of the company’s stock, valued at approximately $234,000.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth $20,227,000. Hemenway Trust Co LLC lifted its stake in shares of McCormick & Company, Incorporated by 71.5% during the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after purchasing an additional 58,511 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of McCormick & Company, Incorporated by 57.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after purchasing an additional 14,652 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth $1,104,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on MKC. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. increased their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, Barclays decreased their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was 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 of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Up 0.5 %

Shares of MKC stock opened at $82.80 on Thursday. The stock’s 50-day simple moving average is $76.88 and its 200-day simple moving average is $78.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The firm has a market capitalization of $22.20 billion, a PE ratio of 28.26, a P/E/G ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $85.78.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

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.