QRG Capital Management Inc. Has $1.09 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

QRG Capital Management Inc. raised its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,320 shares of the company’s stock after purchasing an additional 1,199 shares during the period. QRG Capital Management Inc.’s holdings in McCormick & Company, Incorporated were worth $1,092,000 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. State Street Corp increased its stake in shares of McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after buying an additional 1,114,706 shares during the period. Point72 Asset Management L.P. boosted its holdings in McCormick & Company, Incorporated by 58.2% in the third 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 last quarter. Benjamin Edwards Inc. increased its position 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 purchasing an additional 441,048 shares during the period. Robeco Institutional Asset Management B.V. increased its position 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 purchasing an additional 343,070 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in McCormick & Company, Incorporated during the 3rd quarter worth approximately $20,227,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Up 2.6 %

MKC opened at $84.73 on Tuesday. The company has a fifty day moving average price of $76.70 and a two-hundred day moving average price of $78.65. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $85.49. The company has a market cap of $22.72 billion, a P/E ratio of 28.92, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating 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%. Analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MKC shares. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays cut their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their price objective 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

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.