Wambolt & Associates LLC Has $1.89 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Wambolt & Associates LLC reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 16.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 24,793 shares of the company’s stock after selling 4,835 shares during the period. Wambolt & Associates LLC’s holdings in McCormick & Company, Incorporated were worth $1,890,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in McCormick & Company, Incorporated by 103.1% in the third quarter. Advisors Asset Management Inc. now owns 22,138 shares of the company’s stock valued at $1,822,000 after acquiring an additional 11,240 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in McCormick & Company, Incorporated by 33.7% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,171 shares of the company’s stock valued at $6,433,000 after purchasing an additional 19,692 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in McCormick & Company, Incorporated by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after purchasing an additional 30,696 shares during the period. Raymond James Trust N.A. increased its position in McCormick & Company, Incorporated by 8.1% in the third quarter. Raymond James Trust N.A. now owns 6,277 shares of the company’s stock worth $517,000 after buying an additional 472 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at $534,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays cut 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. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. One equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Trading Up 0.2 %

Shares of MKC stock opened at $80.35 on Tuesday. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The business’s fifty day moving average is $78.58 and its 200 day moving average is $78.87. 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 company has a market capitalization of $21.54 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) 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%. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated 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 owns 6,177 shares in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.80% of the stock is currently owned by company insiders.

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.