McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 43.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,558 shares of the company’s stock after selling 7,338 shares during the period. Wealthfront Advisers LLC’s holdings in McCormick & Company, Incorporated were worth $729,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. State Street Corp raised its position in shares of McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after purchasing an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC raised its position in shares of McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock valued at $482,823,000 after purchasing an additional 54,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of McCormick & Company, Incorporated by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock valued at $247,158,000 after purchasing an additional 177,567 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of McCormick & Company, Incorporated by 58.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after purchasing an additional 568,276 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of McCormick & Company, Incorporated by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company’s stock valued at $115,081,000 after purchasing an additional 46,411 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 23.80% of the company’s stock.

Wall Street Analyst Weigh In

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

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $80.29 on Friday. The company has a market cap of $21.53 billion, a P/E ratio of 27.40, a PEG ratio of 3.76 and a beta of 0.71. The stock has a fifty day moving average price of $77.68 and a 200 day moving average price of $78.87. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24.

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

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.