Proficio Capital Partners LLC Makes New $10.10 Million Investment in McCormick & Company, Incorporated (NYSE:MKC)

Proficio Capital Partners LLC bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 132,505 shares of the company’s stock, valued at approximately $10,102,000.

Several other institutional investors have also made changes to their positions in the business. M&T Bank Corp boosted its position in shares of McCormick & Company, Incorporated by 10.3% during the 4th quarter. M&T Bank Corp now owns 93,118 shares of the company’s stock valued at $7,099,000 after acquiring an additional 8,696 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of McCormick & Company, Incorporated by 3.2% during the 4th 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 in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of McCormick & Company, Incorporated by 2.2% during the 4th 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 in the last quarter. DJE Kapital AG acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $4,228,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $234,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Down 0.5 %

Shares of NYSE MKC opened at $80.29 on Friday. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The company has a market cap of $21.53 billion, a PE ratio of 27.40, a P/E/G 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 company has a 50-day moving average of $77.68 and a two-hundred day moving average of $78.87.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share 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%. As a group, equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on MKC shares. Jefferies Financial Group upgraded shares of 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. 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 report on Friday, January 24th. Barclays cut their price target 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 raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company 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 given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’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 sale, the director now directly owns 6,177 shares of the company’s stock, valued at $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 SEC, which is available at this link. 23.80% of the stock is currently owned by insiders.

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.