1832 Asset Management L.P. Sells 44,876 Shares of McCormick & Company, Incorporated (NYSE:MKC)

1832 Asset Management L.P. lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 22.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,761 shares of the company’s stock after selling 44,876 shares during the quarter. 1832 Asset Management L.P. owned 0.06% of McCormick & Company, Incorporated worth $10,695,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mitchell Sinkler & Starr PA bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $308,000. JARISLOWSKY FRASER Ltd lifted its position in shares of McCormick & Company, Incorporated by 175.5% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 14,600 shares of the company’s stock worth $998,000 after buying an additional 9,300 shares in the last quarter. Focus Financial Network Inc. ADV bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $706,000. Allianz Asset Management GmbH boosted its stake in shares of McCormick & Company, Incorporated by 27.0% in the 4th quarter. Allianz Asset Management GmbH now owns 38,107 shares of the company’s stock worth $2,607,000 after buying an additional 8,113 shares during the last quarter. Finally, Boston Family Office LLC grew its holdings in shares of McCormick & Company, Incorporated by 2.9% in the fourth quarter. Boston Family Office LLC now owns 149,187 shares of the company’s stock valued at $10,207,000 after acquiring an additional 4,240 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on MKC shares. TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. Finally, Bank of America boosted their price target on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.14.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of NYSE MKC opened at $83.19 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The stock has a market capitalization of $22.35 billion, a PE ratio of 30.36, a P/E/G ratio of 4.26 and a beta of 0.76. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. The business’s fifty day moving average price is $78.91 and its 200-day moving average price is $74.53.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.