Rhumbline Advisers Buys 4,849 Shares of McCormick & Company, Incorporated (MKC)

Rhumbline Advisers increased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 259,656 shares of the company’s stock after purchasing an additional 4,849 shares during the quarter. Rhumbline Advisers owned about 0.20% of McCormick & Company, Incorporated worth $26,462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. grew its position in shares of McCormick & Company, Incorporated by 81.9% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock valued at $167,208,000 after purchasing an additional 733,375 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of McCormick & Company, Incorporated by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 1,026,505 shares of the company’s stock valued at $105,360,000 after purchasing an additional 11,005 shares in the last quarter. Swiss National Bank grew its position in shares of McCormick & Company, Incorporated by 4.8% in the fourth quarter. Swiss National Bank now owns 962,948 shares of the company’s stock valued at $98,134,000 after purchasing an additional 44,100 shares in the last quarter. Congress Asset Management Co. MA grew its position in shares of McCormick & Company, Incorporated by 5.1% in the fourth quarter. Congress Asset Management Co. MA now owns 815,348 shares of the company’s stock valued at $83,092,000 after purchasing an additional 39,266 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of McCormick & Company, Incorporated by 6.9% in the third quarter. Legal & General Group Plc now owns 721,107 shares of the company’s stock valued at $74,015,000 after purchasing an additional 46,561 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

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Shares of McCormick & Company, Incorporated (MKC) opened at $107.81 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.42 and a current ratio of 0.83. McCormick & Company, Incorporated has a 52 week low of $90.25 and a 52 week high of $111.46. The stock has a market capitalization of $14,494.97, a PE ratio of 29.14, a price-to-earnings-growth ratio of 2.39 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 25th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.02. McCormick & Company, Incorporated had a return on equity of 25.30% and a net margin of 9.88%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. sell-side analysts forecast that McCormick & Company, Incorporated will post 4.88 EPS for the current year.

In other McCormick & Company, Incorporated news, VP Michael R. Smith sold 2,575 shares of McCormick & Company, Incorporated stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $107.96, for a total transaction of $277,997.00. Following the completion of the sale, the vice president now owns 17,312 shares of the company’s stock, valued at $1,869,003.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Patricia A. Little sold 6,250 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $108.63, for a total value of $678,937.50. Following the sale, the director now directly owns 15,497 shares of the company’s stock, valued at approximately $1,683,439.11. The disclosure for this sale can be found here. Insiders own 19.20% of the company’s stock.

MKC has been the subject of several recent analyst reports. Zacks Investment Research cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Credit Suisse Group set a $115.00 target price on McCormick & Company, Incorporated and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Deutsche Bank cut McCormick & Company, Incorporated from a “hold” rating to a “sell” rating and reduced their target price for the stock from $103.00 to $98.00 in a research report on Friday, January 19th. Jefferies Group restated a “buy” rating and set a $120.00 target price on shares of McCormick & Company, Incorporated in a research report on Thursday, January 25th. Finally, Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $103.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $107.67.

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McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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