McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lessened its position in McCormick & Company, Incorporated (NYSE:MKC) by 37.3% during the fourth quarter, Holdings Channel reports. The fund owned 4,676 shares of the company’s stock after selling 2,786 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in McCormick & Company, Incorporated were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Wallington Asset Management LLC increased its stake in McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after buying an additional 136 shares during the period. International Private Wealth Advisors LLC increased its stake in McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after buying an additional 136 shares during the period. Empower Advisory Group LLC increased its stake in McCormick & Company, Incorporated by 1.7% during the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after buying an additional 138 shares during the period. Hunter Associates Investment Management LLC increased 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 buying an additional 153 shares during the period. Finally, Kingsview Wealth Management LLC increased its stake in McCormick & Company, Incorporated by 4.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock valued at $320,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were 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. This represents a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Up 3.6 %

NYSE:MKC opened at $78.63 on Thursday. McCormick & Company, Incorporated has a 12 month low of $65.72 and a 12 month high of $85.49. The firm has a market cap of $21.09 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 3.66 and a beta of 0.75. 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’s 50 day moving average is $76.44 and its 200-day moving average is $78.39.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 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%. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

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.