McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Kensington Investment Counsel LLC

Kensington Investment Counsel LLC grew its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 80,386 shares of the company’s stock after buying an additional 4,281 shares during the quarter. McCormick & Company, Incorporated makes up 2.6% of Kensington Investment Counsel LLC’s portfolio, making the stock its 6th largest position. Kensington Investment Counsel LLC’s holdings in McCormick & Company, Incorporated were worth $6,129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MKC. State Street Corp increased its stake in shares of McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after buying an additional 1,114,706 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after buying an additional 568,276 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of McCormick & Company, Incorporated by 2,778.8% in the third quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock valued at $37,606,000 after buying an additional 441,048 shares in the last quarter. Amundi increased its stake in shares of McCormick & Company, Incorporated by 37.5% in the fourth quarter. Amundi now owns 1,372,446 shares of the company’s stock valued at $102,275,000 after buying an additional 374,559 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of McCormick & Company, Incorporated by 321.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock valued at $34,298,000 after buying an additional 343,070 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, the director now owns 6,177 shares in the company, valued at $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 is available at this hyperlink. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $81.90 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The stock has a market cap of $21.96 billion, a P/E ratio of 27.95, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The stock’s 50-day moving average price is $77.83 and its two-hundred day moving average price is $78.89.

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 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%. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Barclays lowered their price objective on 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. Finally, Jefferies Financial Group upgraded 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 research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Moderate Buy” and an average target price 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.