Handelsbanken Fonder AB raised its holdings in McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 24.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 209,714 shares of the company’s stock after purchasing an additional 41,328 shares during the quarter. Handelsbanken Fonder AB owned 0.08% of McCormick & Company, Incorporated worth $15,989,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. International Private Wealth Advisors LLC grew its stake 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 valued at $276,000 after buying an additional 136 shares during the period. Empower Advisory Group LLC grew its stake in shares of 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 buying an additional 138 shares during the period. Hunter Associates Investment Management LLC grew its stake in shares of McCormick & Company, Incorporated by 1.2% in 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. Kingsview Wealth Management LLC grew its stake in shares of McCormick & Company, Incorporated by 4.2% in 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. Finally, Aurora Investment Counsel grew its stake in shares of McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock valued at $695,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.
McCormick & Company, Incorporated Price Performance
McCormick & Company, Incorporated stock opened at $80.15 on Friday. McCormick & Company, Incorporated has a 52 week low of $65.72 and a 52 week high of $85.49. The company’s 50 day moving average price is $76.34 and its two-hundred day moving average price is $78.40. 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 stock has a market cap of $21.49 billion, a P/E ratio of 27.36, a P/E/G ratio of 3.74 and a beta of 0.75.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on MKC. JPMorgan Chase & Co. raised 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. TD Cowen upgraded 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 research note on Wednesday, January 8th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, 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 research note on Monday, January 27th. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Moderate Buy” and an average price target of $83.75.
Check Out Our Latest Stock Analysis on MKC
Insiders Place Their Bets
In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 23.80% of the company’s stock.
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.
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