Freedom Day Solutions LLC Decreases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Freedom Day Solutions LLC cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,695 shares of the company’s stock after selling 375 shares during the period. Freedom Day Solutions LLC’s holdings in McCormick & Company, Incorporated were worth $205,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MKC. Blue Trust Inc. raised its stake in McCormick & Company, Incorporated by 125.9% during the 3rd quarter. Blue Trust Inc. now owns 2,087 shares of the company’s stock valued at $172,000 after buying an additional 1,163 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of McCormick & Company, Incorporated by 5.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,426 shares of the company’s stock valued at $447,000 after acquiring an additional 293 shares during the period. Eastern Bank bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $70,000. Symphony Financial Ltd. Co. bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $475,000. Finally, Private Advisor Group LLC grew its position in shares of McCormick & Company, Incorporated by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 58,926 shares of the company’s stock valued at $4,850,000 after acquiring an additional 1,603 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Up 3.6 %

Shares of MKC stock opened at $78.63 on Thursday. The stock has a market cap of $21.09 billion, a P/E ratio of 26.84, a PEG ratio of 3.66 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $65.72 and a 52 week high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $76.44 and its two-hundred day simple moving average is $78.39.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. Analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Analyst Ratings Changes

MKC has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. 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 report on Wednesday, January 8th. Barclays cut their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.75.

Insiders Place Their Bets

In other 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 transaction of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.80% of the company’s stock.

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.