Cibc World Markets Corp Has $7.54 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Cibc World Markets Corp boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,925 shares of the company’s stock after purchasing an additional 13,005 shares during the quarter. Cibc World Markets Corp’s holdings in McCormick & Company, Incorporated were worth $7,542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $33,000. Twin Tree Management LP bought a new position in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated during the 4th quarter valued at $38,000. Kentucky Trust Co bought a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $56,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in McCormick & Company, Incorporated in the 4th quarter worth $60,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $81.16 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The business’s fifty day moving average price is $77.97 and its two-hundred day moving average price is $78.89. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The stock has a market capitalization of $21.76 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

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

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction 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 transaction, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MKC. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Barclays cut their price target on 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. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their price objective on 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 analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McCormick & Company, Incorporated has an average 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.