Lee Danner & Bass Inc. Takes $37,000 Position in McCormick & Company, Incorporated (NYSE:MKC)

Lee Danner & Bass Inc. acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 480 shares of the company’s stock, valued at approximately $37,000.

Other hedge funds also recently made changes to their positions in the company. Curio Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $30,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $33,000. Twin Tree Management LP acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $33,000. Rosenberg Matthew Hamilton bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $38,000. Finally, Kentucky Trust Co acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $56,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MKC. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays cut their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Trading Down 0.9 %

MKC stock opened at $80.01 on Monday. The company has a market cap of $21.46 billion, a P/E ratio of 27.31, a PEG ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. 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 business has a fifty day moving average of $78.40 and a 200-day moving average of $78.88.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated 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 sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 23.80% of the stock is currently owned by corporate insiders.

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.