Cardinal Capital Management Boosts Position in McCormick & Company, Incorporated (NYSE:MKC)

Cardinal Capital Management grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,907 shares of the company’s stock after acquiring an additional 2,056 shares during the period. Cardinal Capital Management’s holdings in McCormick & Company, Incorporated were worth $7,201,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in McCormick & Company, Incorporated during the 3rd quarter worth about $28,000. Albion Financial Group UT bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Rosenberg Matthew Hamilton purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $38,000. Kennebec Savings Bank bought a new position in McCormick & Company, Incorporated in the third quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in McCormick & Company, Incorporated during the third quarter worth $50,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MKC shares. JPMorgan Chase & Co. lifted 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 shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays cut their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. 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 issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Trading Down 0.6 %

Shares of NYSE:MKC opened at $77.07 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 12-month low of $64.86 and a 12-month high of $85.49. The business has a 50 day moving average of $76.61 and a two-hundred day moving average of $78.42. The company has a market capitalization of $20.67 billion, a PE ratio of 26.30, a PEG ratio of 3.67 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts forecast 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 company’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 22.90% 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.