National Pension Service Trims Stake in McCormick & Company, Incorporated (NYSE:MKC)

National Pension Service lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 389,807 shares of the company’s stock after selling 29,861 shares during the quarter. National Pension Service’s holdings in McCormick & Company, Incorporated were worth $29,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mengis Capital Management Inc. purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth about $294,000. Crestwood Advisors Group LLC increased its stake in McCormick & Company, Incorporated by 0.3% in the 4th quarter. Crestwood Advisors Group LLC now owns 569,234 shares of the company’s stock worth $43,398,000 after buying an additional 1,472 shares during the period. Roffman Miller Associates Inc. PA increased its stake in McCormick & Company, Incorporated by 1.3% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 376,363 shares of the company’s stock worth $28,694,000 after buying an additional 4,731 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth about $374,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in McCormick & Company, Incorporated by 3.0% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 47,844 shares of the company’s stock worth $3,648,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MKC. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. raised their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note 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 on the stock 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 research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Stock Up 1.3 %

Shares of McCormick & Company, Incorporated stock opened at $82.67 on Friday. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $85.49. The stock has a market cap of $22.17 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 3.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The firm’s 50-day moving average is $76.57 and its two-hundred day moving average is $78.59.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating 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, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Company 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.