McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 99,375 shares of the company’s stock after selling 195 shares during the quarter. Mattern Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $7,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of MKC. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at approximately $28,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $33,000. Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $38,000. Kennebec Savings Bank acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at approximately $50,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 completion of 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 filing with the Securities & Exchange Commission, which is available at this link. 23.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. 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 report on Friday, January 24th. Barclays reduced their price target on shares of 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. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and an average target price of $83.75.

McCormick & Company, Incorporated Stock Up 0.8 %

MKC stock opened at $79.25 on Friday. The stock has a market capitalization of $21.25 billion, a P/E ratio of 27.05, a PEG ratio of 3.61 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a one year low of $65.72 and a one year high of $85.49. The company has a 50 day moving average price of $76.38 and a two-hundred day moving average price of $78.39.

McCormick & Company, Incorporated (NYSE:MKC) last released its 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%. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 EPS 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.