McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 82.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,980 shares of the company’s stock after selling 363,536 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in McCormick & Company, Incorporated were worth $6,098,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Albion Financial Group UT bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Rosenberg Matthew Hamilton bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $38,000. Kentucky Trust Co bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $56,000. VisionPoint Advisory Group LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $60,000. Finally, Assetmark Inc. grew its holdings in shares of McCormick & Company, Incorporated by 165.5% during 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. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analysts Set New Price Targets

MKC has been the subject of several recent research reports. Barclays lowered their target price on 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. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $81.60 on Thursday. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The business has a 50 day simple moving average of $77.50 and a 200 day simple moving average of $78.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last released 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 return on equity of 14.89% and a net margin of 11.73%. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insiders Place Their Bets

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 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 represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.80% of the stock is currently owned by insiders.

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.