QRG Capital Management Inc. Purchases 1,199 Shares of McCormick & Company, Incorporated (NYSE:MKC)

QRG Capital Management Inc. grew its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,320 shares of the company’s stock after acquiring an additional 1,199 shares during the quarter. QRG Capital Management Inc.’s holdings in McCormick & Company, Incorporated were worth $1,092,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MKC. State Street Corp boosted its position in McCormick & Company, Incorporated by 7.8% during 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 last quarter. Point72 Asset Management L.P. raised its position in shares of McCormick & Company, Incorporated by 58.2% in 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 period. Benjamin Edwards Inc. lifted its stake in shares of McCormick & Company, Incorporated by 2,778.8% during the 3rd 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. Robeco Institutional Asset Management B.V. lifted its stake in shares of McCormick & Company, Incorporated by 321.2% during the 4th 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, Janney Montgomery Scott LLC bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $20,227,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Trading Up 2.6 %

Shares of MKC opened at $84.73 on Tuesday. 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 52-week low of $66.88 and a 52-week high of $85.49. The firm has a market cap of $22.72 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 3.76 and a beta of 0.75. The business’s fifty day moving average is $76.70 and its 200-day moving average is $78.65.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly 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%. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MKC. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen upgraded 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 note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Finally, Barclays decreased 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 assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.