Curio Wealth LLC Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Curio Wealth LLC purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 400 shares of the company’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MKC. State Street Corp grew its holdings in shares of 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 buying an additional 1,114,706 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of 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 worth $127,115,000 after buying an additional 568,276 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of 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 during the last quarter. Amundi grew its holdings in shares of McCormick & Company, Incorporated by 37.5% during the fourth quarter. Amundi now owns 1,372,446 shares of the company’s stock worth $102,275,000 after buying an additional 374,559 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of McCormick & Company, Incorporated by 321.2% during 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. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $81.90 on Tuesday. The firm has a 50 day moving average of $77.83 and a 200-day moving average of $78.89. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. 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 company has a market cap of $21.96 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) 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%. As a group, equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now directly 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 SEC, which is available at this hyperlink. Insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

MKC has been the subject of a number of recent analyst reports. Barclays reduced 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. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and an average target price of $83.75.

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.