Empower Advisory Group LLC Increases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Empower Advisory Group LLC increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,402 shares of the company’s stock after acquiring an additional 138 shares during the period. Empower Advisory Group LLC’s holdings in McCormick & Company, Incorporated were worth $641,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its position in 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 purchasing an additional 1,114,706 shares during the period. Point72 Asset Management L.P. grew its position in McCormick & Company, Incorporated by 58.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock worth $127,115,000 after purchasing an additional 568,276 shares during the period. Benjamin Edwards Inc. grew its position in McCormick & Company, Incorporated by 2,778.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock worth $37,606,000 after purchasing an additional 441,048 shares during the period. Robeco Institutional Asset Management B.V. grew its position in McCormick & Company, Incorporated by 321.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock worth $34,298,000 after purchasing an additional 343,070 shares during the period. Finally, E. Ohman J or Asset Management AB grew its position in McCormick & Company, Incorporated by 3,499.8% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 334,777 shares of the company’s stock worth $27,552,000 after purchasing an additional 325,477 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price 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. TD Cowen raised shares of 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 shares of 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 raised 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 research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.75.

Insider Activity 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 shares were 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 in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 1.4 %

MKC opened at $75.91 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $65.72 and a fifty-two week high of $85.49. The firm’s fifty day moving average is $76.56 and its 200 day moving average is $78.41. The stock has a market cap of $20.36 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating 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, sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

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.