McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by HFR Wealth Management LLC

HFR Wealth Management LLC raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 131,823 shares of the company’s stock after acquiring an additional 232 shares during the period. McCormick & Company, Incorporated accounts for about 2.5% of HFR Wealth Management LLC’s holdings, making the stock its 22nd biggest position. HFR Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $10,050,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MKC. Chicago Partners Investment Group LLC acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $227,000. Optas LLC acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $211,000. Janney Montgomery Scott LLC acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $20,227,000. Van ECK Associates Corp raised its holdings in McCormick & Company, Incorporated by 7.2% in the 3rd quarter. Van ECK Associates Corp now owns 6,964 shares of the company’s stock valued at $553,000 after acquiring an additional 465 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in McCormick & Company, Incorporated by 409.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 106,800 shares of the company’s stock valued at $8,790,000 after acquiring an additional 85,835 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Up 2.6 %

MKC stock opened at $84.73 on Tuesday. The business has a fifty day simple moving average of $76.70 and a 200-day simple moving average of $78.65. 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 52 week low of $66.88 and a 52 week high of $85.49. The company has a market cap of $22.72 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced 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%. On average, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on MKC. Barclays cut their price target 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 price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average price target of $83.75.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 23.80% of the stock is owned by corporate insiders.

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.