Bahl & Gaynor Inc. Has $17.14 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Bahl & Gaynor Inc. lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 224,815 shares of the company’s stock after selling 8,522 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.08% of McCormick & Company, Incorporated worth $17,140,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of McCormick & Company, Incorporated by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company’s stock valued at $115,081,000 after acquiring an additional 46,411 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of McCormick & Company, Incorporated by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 23,244 shares of the company’s stock valued at $1,772,000 after acquiring an additional 494 shares during the last quarter. DJE Kapital AG acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $4,228,000. SBI Securities Co. Ltd. acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $234,000. Finally, Norden Group LLC increased its position in shares of McCormick & Company, Incorporated by 5.2% in the fourth quarter. Norden Group LLC now owns 10,536 shares of the company’s stock valued at $803,000 after acquiring an additional 521 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 2.7 %

Shares of NYSE:MKC opened at $82.40 on Wednesday. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $85.78. The stock has a market cap of $22.10 billion, a PE ratio of 28.12, a P/E/G ratio of 3.76 and a beta of 0.75. The business has a 50 day moving average of $76.79 and a 200-day moving average of $78.68. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) 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 forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, February 13th. The shares were 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 directly owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

MKC has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price 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. Barclays reduced their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Moderate Buy” and a consensus price target of $83.75.

About McCormick & Company, Incorporated

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.