Stokes Family Office LLC Acquires New Stake in McCormick & Company, Incorporated (NYSE:MKC)

Stokes Family Office LLC acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, HoldingsChannel reports. The firm acquired 2,792 shares of the company’s stock, valued at approximately $213,000.

A number of other large investors also recently bought and sold shares of MKC. State Street Corp boosted its holdings in McCormick & Company, Incorporated by 7.8% during the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after acquiring an additional 1,114,706 shares during the period. Point72 Asset Management L.P. boosted its holdings in McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after acquiring an additional 568,276 shares during the period. Benjamin Edwards Inc. boosted its holdings in McCormick & Company, Incorporated by 2,778.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock valued at $37,606,000 after acquiring an additional 441,048 shares during the period. Amundi boosted its holdings in McCormick & Company, Incorporated by 37.5% during the 4th quarter. Amundi now owns 1,372,446 shares of the company’s stock valued at $102,275,000 after acquiring an additional 374,559 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in McCormick & Company, Incorporated by 321.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock valued at $34,298,000 after acquiring an additional 343,070 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 23.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on MKC shares. 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. JPMorgan Chase & Co. upped their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded 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 report on Monday, December 9th. One equities 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Trading Up 0.1 %

Shares of NYSE MKC opened at $81.40 on Thursday. 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 stock has a market capitalization of $21.83 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The business has a fifty day moving average price of $78.11 and a 200 day moving average price of $78.91.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data 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%. Equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS 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.