SlateStone Wealth LLC Raises Position in McCormick & Company, Incorporated (NYSE:MKC)

SlateStone Wealth LLC grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,215 shares of the company’s stock after acquiring an additional 284 shares during the period. SlateStone Wealth LLC’s holdings in McCormick & Company, Incorporated were worth $855,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. 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 bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at approximately $38,000. Kentucky Trust Co purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at $56,000. Assetmark Inc. boosted its holdings in McCormick & Company, Incorporated by 165.5% in the third quarter. Assetmark Inc. now owns 754 shares of the company’s stock worth $62,000 after acquiring an additional 470 shares in the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $60,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.5 %

MKC opened at $80.29 on Monday. The stock has a 50-day moving average of $77.68 and a 200 day moving average of $78.87. 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 $66.88 and a 12 month high of $86.24. The firm has a market cap of $21.53 billion, a P/E ratio of 27.40, a P/E/G ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share 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, research 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 business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value 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 approximately $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

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