McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 29.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,630 shares of the company’s stock after selling 1,954 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $353,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $33,000. Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $38,000. Kentucky Trust Co acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $56,000. Assetmark Inc. increased its position in McCormick & Company, Incorporated by 165.5% during the third quarter. Assetmark Inc. now owns 754 shares of the company’s stock worth $62,000 after purchasing an additional 470 shares during the last quarter. Finally, VisionPoint Advisory Group LLC acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $60,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’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 transaction, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $80.29 on Monday. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The stock has a market cap of $21.53 billion, a PE ratio of 27.40, a P/E/G ratio of 3.76 and a beta of 0.71. The firm has a 50-day simple moving average of $77.68 and a two-hundred day simple moving average of $78.87. 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 posted its quarterly earnings data 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%. As a group, analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Analysts Set New Price Targets

MKC has been the subject of several recent analyst reports. Barclays cut 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 research report on Monday, January 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. One equities 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.75.

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.