HighTower Advisors LLC Sells 4,603 Shares of McCormick & Company, Incorporated (NYSE:MKC)

HighTower Advisors LLC cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,095 shares of the company’s stock after selling 4,603 shares during the period. HighTower Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $6,869,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Albion Financial Group UT bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $33,000. Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $38,000. Kentucky Trust Co bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $56,000. Assetmark Inc. increased its holdings in shares of McCormick & Company, Incorporated by 165.5% in the 3rd quarter. Assetmark Inc. now owns 754 shares of the company’s stock worth $62,000 after buying an additional 470 shares during the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $60,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $81.16 on Wednesday. The firm has a market cap of $21.76 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The firm’s 50 day simple moving average is $77.97 and its 200-day simple moving average is $78.89. 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 quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, January 23rd. The company reported $0.80 EPS 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%. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’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 transaction, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays reduced 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 report on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.