Vanguard Group Inc. Increases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Vanguard Group Inc. lifted its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.0% in the fourth quarter, Holdings Channel reports. The firm owned 31,737,310 shares of the company’s stock after acquiring an additional 303,973 shares during the period. Vanguard Group Inc. owned 0.12% of McCormick & Company, Incorporated worth $2,419,653,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of McCormick & Company, Incorporated by 21.7% during the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after acquiring an additional 24,881 shares during the last quarter. DJE Kapital AG purchased a new position in McCormick & Company, Incorporated during the 4th quarter worth $4,228,000. SBI Securities Co. Ltd. purchased a new position in McCormick & Company, Incorporated during the 4th quarter worth $234,000. Qsemble Capital Management LP acquired a new position in McCormick & Company, Incorporated in the third quarter valued at $1,104,000. Finally, Asset Management One Co. Ltd. raised its holdings in shares of McCormick & Company, Incorporated by 16.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock valued at $10,547,000 after buying an additional 19,491 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $80.39 on Wednesday. The company has a market cap of $21.56 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The business has a fifty day moving average of $78.75 and a two-hundred day moving average of $78.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. As a group, analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 23.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. 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 research report on Friday, January 24th. Jefferies Financial Group raised 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 report on Monday, December 9th. 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. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.75.

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.