McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 82.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 79,980 shares of the company’s stock after selling 363,536 shares during the period. Bowen Hanes & Co. Inc.’s holdings in McCormick & Company, Incorporated were worth $6,098,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $38,000. Kentucky Trust Co acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $56,000. VisionPoint Advisory Group LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $60,000. Finally, Assetmark Inc. lifted its position in shares of McCormick & Company, Incorporated by 165.5% during the 3rd quarter. Assetmark Inc. now owns 754 shares of the company’s stock valued at $62,000 after acquiring an additional 470 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 1.9 %

NYSE MKC opened at $81.60 on Thursday. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $21.88 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The firm’s fifty day simple moving average is $77.50 and its 200-day simple moving average is $78.85.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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 net margin of 11.73% and a return on equity of 14.89%. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Finally, Barclays reduced their target price 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.75.

Insiders Place Their Bets

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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company 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.