Ironwood Investment Counsel LLC Cuts Stake in McCormick & Company, Incorporated (NYSE:MKC)

Ironwood Investment Counsel LLC lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,379 shares of the company’s stock after selling 805 shares during the period. Ironwood Investment Counsel LLC’s holdings in McCormick & Company, Incorporated were worth $1,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the company. International Private Wealth Advisors LLC lifted its stake in McCormick & Company, Incorporated by 3.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after purchasing an additional 136 shares during the last quarter. Empower Advisory Group LLC increased its stake in 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 boosted 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 acquiring an additional 153 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in McCormick & Company, Incorporated by 3.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company’s stock worth $427,000 after purchasing an additional 169 shares during the period. Finally, Kingsview Wealth Management LLC grew its holdings in McCormick & Company, Incorporated by 4.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock worth $320,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 1.2 %

Shares of NYSE:MKC opened at $80.53 on Friday. The stock has a market capitalization of $21.59 billion, a P/E ratio of 27.49, a PEG 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 1 year low of $66.88 and a 1 year high of $86.24. The stock has a 50-day simple moving average of $77.59 and a 200-day simple moving average of $78.87.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share 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%. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Buying and Selling

In other McCormick & Company, Incorporated 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 transaction of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.80% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the topic of several recent research reports. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average target price of $83.75.

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.