Meiji Yasuda Asset Management Co Ltd. Acquires 4,377 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Meiji Yasuda Asset Management Co Ltd. raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 123,812 shares of the company’s stock after acquiring an additional 4,377 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in McCormick & Company, Incorporated were worth $9,439,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of McCormick & Company, Incorporated by 21.7% during the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after acquiring an additional 24,881 shares during the period. DJE Kapital AG bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $4,228,000. SBI Securities Co. Ltd. bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $234,000. Qsemble Capital Management LP acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth about $1,104,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of McCormick & Company, Incorporated by 16.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock worth $10,547,000 after buying an additional 19,491 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of MKC opened at $80.35 on Tuesday. The firm has a market cap of $21.54 billion, a P/E ratio of 27.42, 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 has a 52 week low of $66.88 and a 52 week high of $86.24. The firm’s 50-day simple moving average is $78.58 and its 200 day simple moving average is $78.87.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating the consensus estimate 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, analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on MKC. JPMorgan Chase & Co. upped their price target 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 decreased their price objective on 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 McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated 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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.