McCormick & Company, Incorporated (NYSE:MKC) Stock Holdings Lifted by Empowered Funds LLC

Empowered Funds LLC raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,962 shares of the company’s stock after purchasing an additional 341 shares during the period. Empowered Funds LLC’s holdings in McCormick & Company, Incorporated were worth $378,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MKC. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $28,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Rosenberg Matthew Hamilton bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth $38,000. Kennebec Savings Bank acquired a new position in McCormick & Company, Incorporated during the third quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. bought a new position in McCormick & Company, Incorporated during the third quarter valued at about $50,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the company’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 value of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MKC. JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays dropped their price target on shares of 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 raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Up 0.8 %

NYSE MKC opened at $79.25 on Friday. The stock has a fifty day moving average of $76.38 and a 200-day moving average of $78.39. The stock has a market capitalization of $21.25 billion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 3.61 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $65.72 and a 52 week high of $85.49. 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 (NYSE:MKC) last issued its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating the consensus estimate 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, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

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.