ING Groep NV Sells 13,095 Shares of McCormick & Company, Incorporated (NYSE:MKC)

ING Groep NV reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 38.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,610 shares of the company’s stock after selling 13,095 shares during the period. ING Groep NV’s holdings in McCormick & Company, Incorporated were worth $1,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Private Wealth Advisors LLC grew its position in shares of McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after acquiring an additional 136 shares during the period. Empower Advisory Group LLC lifted its position in McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after purchasing an additional 138 shares in the last quarter. Hunter Associates Investment Management LLC lifted its position in McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after purchasing an additional 153 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in McCormick & Company, Incorporated by 4.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock valued at $320,000 after purchasing an additional 170 shares during the period. Finally, Aurora Investment Counsel increased its position in McCormick & Company, Incorporated by 2.1% in the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock worth $695,000 after buying an additional 172 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 value of $2,163,926.76. Following the sale, the director now 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 document filed with the SEC, which is accessible through this hyperlink. 23.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MKC shares. JPMorgan Chase & Co. lifted their price objective on 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 lifted their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays reduced 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 note on Monday, January 27th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company 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 given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $80.15 on Monday. 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 company’s fifty day moving average price is $76.33 and its 200-day moving average price is $78.44. McCormick & Company, Incorporated has a one year low of $65.72 and a one year high of $85.49. The company has a market capitalization of $21.49 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75.

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%. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

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.