Freedom Day Solutions LLC Decreases Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Freedom Day Solutions LLC trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 12.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,695 shares of the company’s stock after selling 375 shares during the quarter. Freedom Day Solutions LLC’s holdings in McCormick & Company, Incorporated were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated in the third quarter worth about $28,000. Albion Financial Group UT bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth about $33,000. Rosenberg Matthew Hamilton bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth about $38,000. Kennebec Savings Bank bought a new stake in McCormick & Company, Incorporated in the third quarter worth about $40,000. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in McCormick & Company, Incorporated in the third quarter worth about $50,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $78.63 on Thursday. The firm has a market cap of $21.09 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 3.66 and a beta of 0.75. The company’s 50 day moving average is $76.44 and its 200 day moving average is $78.39. 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 $65.72 and a 52-week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (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%. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated 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 transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. lifted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Barclays decreased their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus 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.