Private Advisor Group LLC Sells 417 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Private Advisor Group LLC reduced its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,509 shares of the company’s stock after selling 417 shares during the period. Private Advisor Group LLC’s holdings in McCormick & Company, Incorporated were worth $4,461,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp lifted its stake in McCormick & Company, Incorporated by 7.8% during the third 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. Geode Capital Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after buying an additional 54,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of McCormick & Company, Incorporated by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after buying an additional 177,567 shares during the period. Point72 Asset Management L.P. boosted its stake 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 valued at $127,115,000 after buying an additional 568,276 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after buying an additional 30,696 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

McCormick & Company, Incorporated Stock Up 1.2 %

Shares of NYSE MKC opened at $80.15 on Friday. McCormick & Company, Incorporated has a 12-month low of $65.72 and a 12-month high of $85.49. The firm’s 50-day simple moving average is $76.33 and its 200 day simple moving average is $78.42. 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 $21.49 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping 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, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated 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 completion of the sale, the director now directly owns 6,177 shares in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.