AXQ Capital LP Sells 17,105 Shares of McCormick & Company, Incorporated (NYSE:MKC)

AXQ Capital LP lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 84.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,227 shares of the company’s stock after selling 17,105 shares during the quarter. AXQ Capital LP’s holdings in McCormick & Company, Incorporated were worth $246,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp grew its holdings in McCormick & Company, Incorporated by 7.8% during the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after buying an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC grew its holdings in McCormick & Company, Incorporated by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after buying an additional 54,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in McCormick & Company, Incorporated by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after buying an additional 177,567 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in McCormick & Company, Incorporated by 58.2% during the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock worth $127,115,000 after buying an additional 568,276 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in McCormick & Company, Incorporated by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company’s stock worth $115,081,000 after buying an additional 46,411 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

MKC has been the subject of several recent research reports. Barclays decreased 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. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their price objective 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Down 0.9 %

Shares of NYSE MKC opened at $80.01 on Monday. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The business’s fifty day moving average price is $78.40 and its 200-day moving average price is $78.88. The stock has a market capitalization of $21.46 billion, a PE ratio of 27.31, a P/E/G ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating 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%. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 23.80% of the company’s stock.

About McCormick & Company, Incorporated

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.