Vinva Investment Management Ltd Purchases New Shares in McCormick & Company, Incorporated (NYSE:MKC)

Vinva Investment Management Ltd bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the 4th quarter, HoldingsChannel reports. The fund bought 12,366 shares of the company’s stock, valued at approximately $933,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MKC. Curio Wealth LLC purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $30,000. Albion Financial Group UT purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Twin Tree Management LP purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $38,000. Finally, Kentucky Trust Co purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays reduced their target price 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. JPMorgan Chase & Co. raised their price target 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. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. One research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Down 0.8 %

Shares of McCormick & Company, Incorporated stock opened at $80.66 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The firm’s 50-day moving average is $78.23 and its two-hundred day moving average is $78.92. The stock has a market cap of $21.63 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) 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, research 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.