Vanguard Group Inc. Raises Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Vanguard Group Inc. grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,737,310 shares of the company’s stock after buying an additional 303,973 shares during the period. Vanguard Group Inc. owned 11.84% of McCormick & Company, Incorporated worth $2,419,653,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Curio Wealth LLC purchased a new position in McCormick & Company, Incorporated in the fourth quarter worth approximately $30,000. Albion Financial Group UT purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth $33,000. Twin Tree Management LP acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $33,000. Lee Danner & Bass Inc. purchased a new stake in McCormick & Company, Incorporated in the 4th quarter valued at about $37,000. Finally, Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.1 %

NYSE:MKC opened at $80.39 on Wednesday. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The firm has a market cap of $21.56 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. 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 stock has a fifty day moving average price of $78.75 and a 200 day moving average price of $78.85.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of 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 dropped their target price on shares of 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. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the 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 transaction, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 23.80% of the company’s stock.

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.