Sanctuary Advisors LLC Cuts Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Sanctuary Advisors LLC cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,568 shares of the company’s stock after selling 2,381 shares during the quarter. Sanctuary Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $2,844,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MKC. State Street Corp grew its position 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 valued at $1,260,499,000 after buying an additional 1,114,706 shares during the period. Point72 Asset Management L.P. boosted its stake in McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after acquiring an additional 568,276 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in McCormick & Company, Incorporated by 2,778.8% in the third quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock valued at $37,606,000 after acquiring an additional 441,048 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in McCormick & Company, Incorporated by 321.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock valued at $34,298,000 after acquiring an additional 343,070 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in McCormick & Company, Incorporated in the third quarter valued at about $20,227,000. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. Barclays dropped their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $80.15 on Friday. The stock has a market capitalization of $21.49 billion, a P/E ratio of 27.36, a PEG ratio of 3.76 and a beta of 0.75. 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 firm’s 50 day moving average is $76.33 and its 200 day moving average is $78.42. McCormick & Company, Incorporated has a 12 month low of $65.72 and a 12 month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted its 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%. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated 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.