Northwest & Ethical Investments L.P. Has $1.44 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Northwest & Ethical Investments L.P. lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 90.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 18,910 shares of the company’s stock after acquiring an additional 8,960 shares during the period. Northwest & Ethical Investments L.P.’s holdings in McCormick & Company, Incorporated were worth $1,442,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in McCormick & Company, Incorporated by 21.7% during the 3rd 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 bought a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $4,228,000. SBI Securities Co. Ltd. bought a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $234,000. Qsemble Capital Management LP bought a new position in McCormick & Company, Incorporated during the 3rd quarter worth approximately $1,104,000. Finally, Asset Management One Co. Ltd. boosted its stake in McCormick & Company, Incorporated by 16.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock worth $10,547,000 after acquiring an additional 19,491 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MKC. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. lifted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Barclays cut their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note 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 issued a strong buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction 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 in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $80.01 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The company has a market capitalization of $21.46 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The firm’s 50 day moving average is $78.40 and its 200-day moving average is $78.92.

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

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.