Mutual of America Capital Management LLC Sells 837 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Mutual of America Capital Management LLC lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,228 shares of the company’s stock after selling 837 shares during the quarter. Mutual of America Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,305,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hemenway Trust Co LLC boosted its stake in McCormick & Company, Incorporated by 71.5% in the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after acquiring an additional 58,511 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock valued at $11,500,000 after purchasing an additional 24,881 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after purchasing an additional 14,652 shares during the last quarter. Qsemble Capital Management LP bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth $1,104,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of McCormick & Company, Incorporated by 16.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock worth $10,547,000 after purchasing an additional 19,491 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MKC. JPMorgan Chase & Co. increased their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Barclays decreased their price objective 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. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $82.66 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $85.78. The company’s 50 day moving average price is $77.07 and its two-hundred day moving average price is $78.76. The company has a market capitalization of $22.17 billion, a P/E ratio of 28.21, 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 data on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. On average, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

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.