Ironwood Investment Management LLC Boosts Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Ironwood Investment Management LLC boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,540 shares of the company’s stock after purchasing an additional 380 shares during the quarter. Ironwood Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $880,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. LBP AM SA purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth about $6,270,000. Madison Investment Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $1,456,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of McCormick & Company, Incorporated by 1.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 54,670 shares of the company’s stock valued at $4,125,000 after acquiring an additional 529 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of McCormick & Company, Incorporated by 1.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 26,150 shares of the company’s stock valued at $1,994,000 after purchasing an additional 488 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its position in McCormick & Company, Incorporated by 1.4% in the fourth quarter. Great Lakes Advisors LLC now owns 18,841 shares of the company’s stock worth $1,436,000 after purchasing an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated 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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Trading Down 0.5 %

MKC opened at $80.29 on Friday. The stock has a market cap of $21.53 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 3.76 and a beta of 0.71. The stock’s 50 day moving average price is $77.68 and its 200-day moving average price is $78.87. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. 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 (NYSE:MKC) last announced 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 return on equity of 14.89% and a net margin of 11.73%. On average, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target 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 boosted their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, Barclays decreased their price objective on 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.