McCormick & Company, Incorporated (NYSE:MKC) Stake Boosted by Northcape Wealth Management LLC

Northcape Wealth Management LLC increased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 110.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,403 shares of the company’s stock after purchasing an additional 2,832 shares during the period. Northcape Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $412,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MKC. Wallington Asset Management LLC increased its position in McCormick & Company, Incorporated by 3.4% in the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after buying an additional 136 shares during the period. International Private Wealth Advisors LLC increased its holdings in shares of McCormick & Company, Incorporated by 3.9% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after acquiring an additional 136 shares during the period. Empower Advisory Group LLC lifted its position in McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after purchasing an additional 138 shares during the last quarter. Hunter Associates Investment Management LLC boosted its stake in McCormick & Company, Incorporated by 1.2% during the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after purchasing an additional 153 shares during the period. Finally, Kingsview Wealth Management LLC grew its position in McCormick & Company, Incorporated by 4.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock worth $320,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MKC shares. TD Cowen raised 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 report on Wednesday, January 8th. Barclays cut their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted 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 note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Stock Down 1.4 %

Shares of MKC stock opened at $75.91 on Wednesday. McCormick & Company, Incorporated has a 1 year low of $65.72 and a 1 year high of $85.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The business’s fifty day moving average is $76.56 and its 200-day moving average is $78.41. The stock has a market cap of $20.36 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 3.66 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, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

About McCormick & Company, Incorporated

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.