Signaturefd LLC Lowers Position in McCormick & Company, Incorporated (NYSE:MKC)

Signaturefd LLC decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,163 shares of the company’s stock after selling 160 shares during the period. Signaturefd LLC’s holdings in McCormick & Company, Incorporated were worth $317,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MKC. Wellington Management Group LLP grew its stake in McCormick & Company, Incorporated by 21.7% in the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares during the period. DJE Kapital AG purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $4,228,000. SBI Securities Co. Ltd. bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth about $234,000. Qsemble Capital Management LP bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth about $1,104,000. Finally, Asset Management One Co. Ltd. lifted its position 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 valued at $10,547,000 after acquiring an additional 19,491 shares during the period. Institutional investors own 79.74% of the company’s stock.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 6,177 shares in the company, valued at $475,814.31. This represents 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. Insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

MKC has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their target price 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. Barclays reduced their price objective on 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. Jefferies Financial Group raised 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 report on Monday, December 9th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $80.01 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The business has a 50-day simple moving average of $78.40 and a two-hundred day simple moving average of $78.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The firm has a market cap of $21.46 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last released 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 net margin of 11.73% and a return on equity of 14.89%. On average, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current 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.