Alberta Investment Management Corp Invests $1.59 Million in McCormick & Company, Incorporated (NYSE:MKC)

Alberta Investment Management Corp bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,900 shares of the company’s stock, valued at approximately $1,593,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of 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 acquiring an additional 1,114,706 shares during the period. Point72 Asset Management L.P. lifted its stake in McCormick & Company, Incorporated by 58.2% during the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after purchasing an additional 568,276 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in McCormick & Company, Incorporated by 2,778.8% during the third quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock worth $37,606,000 after buying an additional 441,048 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in McCormick & Company, Incorporated by 321.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock worth $34,298,000 after buying an additional 343,070 shares during the last quarter. Finally, E. Ohman J or Asset Management AB grew its position in McCormick & Company, Incorporated by 3,499.8% in the third quarter. E. Ohman J or Asset Management AB now owns 334,777 shares of the company’s stock worth $27,552,000 after buying an additional 325,477 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

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

McCormick & Company, Incorporated Stock Up 1.2 %

Shares of McCormick & Company, Incorporated stock opened at $80.15 on Friday. McCormick & Company, Incorporated has a 1 year low of $65.72 and a 1 year high of $85.49. The company has a market cap of $21.49 billion, a P/E ratio of 27.36, a P/E/G ratio of 3.74 and a beta of 0.75. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $76.34 and a 200 day moving average price of $78.40.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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 return on equity of 14.89% and a net margin of 11.73%. As a group, analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling 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 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 transaction, the director now owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated 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.