Davis R M Inc. Trims Stake in McCormick & Company, Incorporated (NYSE:MKC)

Davis R M Inc. reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,068 shares of the company’s stock after selling 2,931 shares during the quarter. Davis R M Inc.’s holdings in McCormick & Company, Incorporated were worth $8,315,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MKC. Capital Performance Advisors LLP purchased a new position in McCormick & Company, Incorporated during the third quarter valued at approximately $28,000. Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Rosenberg Matthew Hamilton purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $38,000. Kennebec Savings Bank purchased a new position in McCormick & Company, Incorporated during the third quarter valued at approximately $40,000. Finally, Kentucky Trust Co purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $56,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MKC has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on 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 upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Barclays cut 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. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $84.16 on Tuesday. 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 business’s 50 day moving average price is $77.25 and its 200-day moving average price is $78.81. The firm has a market capitalization of $22.57 billion, a PE ratio of 28.72, a P/E/G 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.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) 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%. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business’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 owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 23.80% of the company’s stock.

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.