Wambolt & Associates LLC Sells 4,835 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Wambolt & Associates LLC trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 16.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,793 shares of the company’s stock after selling 4,835 shares during the period. Wambolt & Associates LLC’s holdings in McCormick & Company, Incorporated were worth $1,890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of McCormick & Company, Incorporated by 21.7% during the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares in the last quarter. DJE Kapital AG bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $4,228,000. SBI Securities Co. Ltd. bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $234,000. Qsemble Capital Management LP bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $1,104,000. Finally, Asset Management One Co. Ltd. lifted its stake in McCormick & Company, Incorporated by 16.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock valued at $10,547,000 after buying an additional 19,491 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction dated 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 directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Up 0.2 %

MKC stock opened at $80.35 on Tuesday. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The business has a 50-day simple moving average of $78.58 and a 200 day simple moving average of $78.87. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company has a market cap of $21.54 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

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

Analysts Set New Price Targets

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

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.