NewEdge Wealth LLC Grows Stake in McCormick & Company, Incorporated (NYSE:MKC)

NewEdge Wealth LLC increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 13.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,263 shares of the company’s stock after buying an additional 1,935 shares during the period. NewEdge Wealth LLC’s holdings in McCormick & Company, Incorporated were worth $1,240,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after acquiring an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC raised its stake in McCormick & Company, Incorporated by 0.9% in the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock valued at $482,823,000 after purchasing an additional 54,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in McCormick & Company, Incorporated by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock valued at $247,158,000 after purchasing an additional 177,567 shares in the last quarter. Point72 Asset Management L.P. lifted its position in McCormick & Company, Incorporated by 58.2% during 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 purchasing an additional 568,276 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock worth $120,409,000 after buying an additional 30,696 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Barclays reduced their price objective 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. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.75.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, the director now owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Up 1.3 %

MKC opened at $82.67 on Friday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $85.49. 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 business’s 50-day moving average price is $76.57 and its 200-day moving average price is $78.59. The company has a market cap of $22.17 billion, a P/E ratio of 28.22, a P/E/G ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share 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 analysts expect that McCormick & Company, Incorporated will post 3.07 EPS 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.