KLP Kapitalforvaltning AS Purchases New Shares in McCormick & Company, Incorporated (NYSE:MKC)

KLP Kapitalforvaltning AS acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, Holdings Channel reports. The fund acquired 88,456 shares of the company’s stock, valued at approximately $6,778,000.

Several other institutional investors have also recently made changes to their positions in MKC. Curio Wealth LLC purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth about $30,000. Twin Tree Management LP purchased a new position in McCormick & Company, Incorporated in the fourth quarter worth $33,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Lee Danner & Bass Inc. purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $37,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth $38,000. Institutional investors own 79.74% of the company’s stock.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.2 %

Shares of MKC stock opened at $80.35 on Tuesday. The stock has a market capitalization of $21.54 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 3.76 and a beta of 0.71. The company’s fifty day simple moving average is $78.58 and its two-hundred day simple moving average is $78.87. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. 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 (NYSE:MKC) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. As a group, analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Analyst Ratings Changes

MKC has been the subject of a number of research analyst reports. Barclays decreased their price objective on shares of 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. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.