McCormick & Company, Incorporated (NYSE:MKC) Holdings Raised by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 12.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,060 shares of the company’s stock after purchasing an additional 220 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $157,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MKC. State Street Corp lifted its position in shares of McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after buying an additional 1,114,706 shares during the last quarter. Geode Capital Management LLC raised its stake in McCormick & Company, Incorporated by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after acquiring an additional 54,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in McCormick & Company, Incorporated by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after acquiring an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. boosted its stake 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 period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of McCormick & Company, Incorporated by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company’s stock valued at $115,081,000 after purchasing an additional 46,411 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $81.90 on Tuesday. The company has a 50-day simple moving average of $77.83 and a 200 day simple moving average of $78.89. The company has a market capitalization of $21.96 billion, a P/E ratio of 27.95, a PEG ratio of 3.76 and a beta of 0.71. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly 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 net margin of 11.73% and a return on equity of 14.89%. Sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated 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. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 23.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of analyst reports. Barclays reduced their price objective on 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. JPMorgan Chase & Co. boosted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, 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.