McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 36.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,157 shares of the company’s stock after selling 5,175 shares during the quarter. Welch & Forbes LLC’s holdings in McCormick & Company, Incorporated were worth $698,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Van ECK Associates Corp boosted its position in McCormick & Company, Incorporated by 7.2% in the 3rd quarter. Van ECK Associates Corp now owns 6,964 shares of the company’s stock worth $553,000 after purchasing an additional 465 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in McCormick & Company, Incorporated by 409.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 106,800 shares of the company’s stock worth $8,790,000 after purchasing an additional 85,835 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in McCormick & Company, Incorporated by 0.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 117,400 shares of the company’s stock worth $9,662,000 after purchasing an additional 839 shares in the last quarter. QRG Capital Management Inc. boosted its position in McCormick & Company, Incorporated by 12.0% in the 3rd quarter. QRG Capital Management Inc. now owns 13,121 shares of the company’s stock worth $1,080,000 after purchasing an additional 1,407 shares in the last quarter. Finally, Radnor Capital Management LLC purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth approximately $346,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Trading Up 1.0 %

Shares of NYSE:MKC opened at $82.66 on Friday. The business’s 50 day moving average price is $77.07 and its 200-day moving average price is $78.76. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $85.78. 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 firm has a market capitalization of $22.17 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on MKC shares. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $91.00 in a research report 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 stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Finally, Barclays decreased their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.75.

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.