Sage Mountain Advisors LLC Grows Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Sage Mountain Advisors LLC increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,774 shares of the company’s stock after buying an additional 266 shares during the period. Sage Mountain Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. International Private Wealth Advisors LLC lifted its holdings in shares of McCormick & Company, Incorporated by 3.9% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after purchasing an additional 136 shares in the last quarter. Empower Advisory Group LLC lifted its holdings in shares of McCormick & Company, Incorporated by 1.7% in the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after purchasing an additional 138 shares in the last quarter. Hunter Associates Investment Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 1.2% in the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after purchasing an additional 153 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 4.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock valued at $320,000 after purchasing an additional 170 shares in the last quarter. Finally, Aurora Investment Counsel raised its position in shares of McCormick & Company, Incorporated by 2.1% in the third 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 last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays cut 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 research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned 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 target price of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $81.60 on Thursday. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The company has a 50 day moving average price of $77.50 and a 200 day moving average price of $78.85. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

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, 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%. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction 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 sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This 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 is available at this hyperlink. Company insiders own 23.80% of the company’s stock.

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.