Redmond Asset Management LLC Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Redmond Asset Management LLC purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,696 shares of the company’s stock, valued at approximately $739,000.

A number of other institutional investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $38,000. Kennebec Savings Bank acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $40,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $80.15 on Friday. The stock has a market capitalization of $21.49 billion, a P/E ratio of 27.36, a P/E/G ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 1-year low of $65.72 and a 1-year 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 business has a 50-day moving average price of $76.33 and a two-hundred day moving average price of $78.42.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Barclays reduced 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 report on Monday, January 27th. Finally, 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. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was 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 approximately $475,814.31. The trade was a 81.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 23.80% of the company’s stock.

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.