Northcape Wealth Management LLC Has $412,000 Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Northcape Wealth Management LLC lifted its position in McCormick & Company, Incorporated (NYSE:MKC) by 110.2% in the 4th quarter, Holdings Channel reports. The fund owned 5,403 shares of the company’s stock after buying an additional 2,832 shares during the period. Northcape Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at $20,227,000. Hemenway Trust Co LLC raised its position in McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after buying an additional 58,511 shares during the period. Wellington Management Group LLP lifted its stake in McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after acquiring an additional 24,881 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in McCormick & Company, Incorporated by 57.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after acquiring an additional 14,652 shares during the period. Finally, Qsemble Capital Management LP purchased a new position in McCormick & Company, Incorporated during the 3rd quarter valued at about $1,104,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MKC. JPMorgan Chase & Co. increased their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays lowered 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 report on Monday, January 27th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $75.91 on Wednesday. McCormick & Company, Incorporated has a fifty-two week low of $65.72 and a fifty-two week high of $85.49. The stock’s 50-day moving average is $76.56 and its two-hundred day moving average is $78.41. The firm has a market cap of $20.36 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 3.66 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last announced its 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%. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 23.80% of the company’s stock.

About McCormick & Company, Incorporated

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.