Amalgamated Bank Lowers Stake in McCormick & Company, Incorporated (NYSE:MKC)

Amalgamated Bank trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,491 shares of the company’s stock after selling 1,035 shares during the period. Amalgamated Bank’s holdings in McCormick & Company, Incorporated were worth $3,697,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MKC. Capital Performance Advisors LLP purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth $28,000. Albion Financial Group UT bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $33,000. Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $38,000. Kennebec Savings Bank purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $40,000. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at approximately $50,000. 79.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Margaret M. V. Preston sold 28,092 shares of the firm’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 completion of the sale, the director now directly owns 6,177 shares in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

MKC has been the subject of several recent analyst reports. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock 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. Finally, Barclays dropped 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Trading Up 1.3 %

Shares of MKC opened at $82.67 on Friday. The stock has a market capitalization of $22.17 billion, a PE ratio of 28.22, a P/E/G ratio of 3.76 and a beta of 0.75. The company’s fifty day moving average is $76.57 and its 200 day moving average is $78.58. 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 fifty-two week low of $66.88 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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%. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

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.