AlphaQuest LLC Makes New $298,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

AlphaQuest LLC purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, HoldingsChannel reports. The fund purchased 3,915 shares of the company’s stock, valued at approximately $298,000.

Several other large investors have also made changes to their positions in the business. Assetmark Inc. raised its stake in McCormick & Company, Incorporated by 165.5% during the 3rd quarter. Assetmark Inc. now owns 754 shares of the company’s stock valued at $62,000 after purchasing an additional 470 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in McCormick & Company, Incorporated by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 612,357 shares of the company’s stock valued at $50,397,000 after buying an additional 8,605 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $263,000. Oppenheimer Asset Management Inc. raised its position in shares of McCormick & Company, Incorporated by 24.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $485,000 after buying an additional 1,144 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of McCormick & Company, Incorporated by 57.6% during the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after acquiring an additional 14,652 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $80.29 on Friday. The stock has a market cap of $21.53 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. 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 stock has a 50 day moving average price of $77.68 and a 200-day moving average price of $78.87. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data 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%. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated 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.