Independent Advisor Alliance Sells 17,317 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Independent Advisor Alliance lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 55.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,709 shares of the company’s stock after selling 17,317 shares during the quarter. Independent Advisor Alliance’s holdings in McCormick & Company, Incorporated were worth $1,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Albion Financial Group UT bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Rosenberg Matthew Hamilton bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $38,000. Kentucky Trust Co bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $56,000. Assetmark Inc. lifted its position in McCormick & Company, Incorporated by 165.5% in the third quarter. Assetmark Inc. now owns 754 shares of the company’s stock valued at $62,000 after purchasing an additional 470 shares during the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $60,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $80.29 on Friday. The stock has a market cap of $21.53 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 3.76 and a beta of 0.71. The business’s fifty day moving average is $77.68 and its 200 day moving average is $78.87. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was 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 of the company’s stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.80% of the stock is owned by insiders.

Analysts Set New Price Targets

MKC has been the topic of several research analyst reports. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. boosted 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. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Barclays reduced their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.75.

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.