McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Davis R M Inc.

Davis R M Inc. lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 109,068 shares of the company’s stock after selling 2,931 shares during the quarter. Davis R M Inc.’s holdings in McCormick & Company, Incorporated were worth $8,315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. International Private Wealth Advisors LLC boosted its stake in McCormick & Company, Incorporated by 3.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after buying an additional 136 shares during the last quarter. Empower Advisory Group LLC raised its position in McCormick & Company, Incorporated by 1.7% in the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after purchasing an additional 138 shares during the period. Hunter Associates Investment Management LLC raised its position in McCormick & Company, Incorporated by 1.2% in the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after purchasing an additional 153 shares during the period. Kingsview Wealth Management LLC raised its position in McCormick & Company, Incorporated by 4.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock valued at $320,000 after purchasing an additional 170 shares during the period. Finally, Aurora Investment Counsel raised its position in McCormick & Company, Incorporated by 2.1% in the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock valued at $695,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $84.16 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $22.57 billion, a PE ratio of 28.72, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The business’s fifty day moving average price is $77.25 and its 200 day moving average price is $78.81.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insiders Place Their Bets

In other McCormick & Company, Incorporated 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 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 represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. TD Cowen upgraded 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 report on Wednesday, January 8th. 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 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. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.