Madison Investment Advisors LLC Invests $1.46 Million in McCormick & Company, Incorporated (NYSE:MKC)

Madison Investment Advisors LLC acquired a new position in McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,099 shares of the company’s stock, valued at approximately $1,456,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of McCormick & Company, Incorporated by 1.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 54,670 shares of the company’s stock worth $4,125,000 after purchasing an additional 529 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of McCormick & Company, Incorporated by 1.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 26,150 shares of the company’s stock valued at $1,994,000 after acquiring an additional 488 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in shares of McCormick & Company, Incorporated by 1.4% in the 4th quarter. Great Lakes Advisors LLC now owns 18,841 shares of the company’s stock valued at $1,436,000 after acquiring an additional 264 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of McCormick & Company, Incorporated by 12.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock valued at $157,000 after acquiring an additional 220 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of McCormick & Company, Incorporated by 3.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company’s stock valued at $427,000 after acquiring an additional 169 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 0.9 %

Shares of NYSE:MKC opened at $80.01 on Friday. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The firm has a market capitalization of $21.46 billion, a P/E ratio of 27.31, a P/E/G ratio of 3.76 and a beta of 0.71. The stock has a 50 day moving average price of $78.40 and a 200-day moving average price of $78.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on MKC. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays lowered their target price 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. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. upped their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.