McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Ramsay Stattman Vela & Price Inc.

Ramsay Stattman Vela & Price Inc. cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 61,540 shares of the company’s stock after selling 173 shares during the period. Ramsay Stattman Vela & Price Inc.’s holdings in McCormick & Company, Incorporated were worth $4,692,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of MKC. Janney Montgomery Scott LLC bought a new position in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $20,227,000. Hemenway Trust Co LLC boosted its position in McCormick & Company, Incorporated by 71.5% during the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after purchasing an additional 58,511 shares during the period. Wellington Management Group LLP grew 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 buying an additional 24,881 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in McCormick & Company, Incorporated by 57.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after buying an additional 14,652 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in McCormick & Company, Incorporated in the third quarter worth $1,104,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity

In other McCormick & Company, Incorporated 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 sale, the director now directly owns 6,177 shares of the company’s stock, 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 through this hyperlink. Insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

MKC has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays dropped 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. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $77.07 on Tuesday. McCormick & Company, Incorporated has a twelve month low of $64.86 and a twelve 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 firm has a 50-day moving average of $76.61 and a two-hundred day moving average of $78.42. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 3.67 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping 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%. As a group, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share 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.