Bellecapital International Ltd. Sells 506 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Bellecapital International Ltd. cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 14.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,051 shares of the company’s stock after selling 506 shares during the period. Bellecapital International Ltd.’s holdings in McCormick & Company, Incorporated were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MKC. State Street Corp increased its position in McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after buying an additional 1,114,706 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after purchasing an additional 568,276 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in McCormick & Company, Incorporated by 2,778.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock valued at $37,606,000 after purchasing an additional 441,048 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in McCormick & Company, Incorporated by 321.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock valued at $34,298,000 after purchasing an additional 343,070 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in McCormick & Company, Incorporated during the 3rd quarter valued at about $20,227,000. 79.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MKC. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen upgraded 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 research note on Wednesday, January 8th. Barclays cut their price target on 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, JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. One equities research 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. According to data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Moderate Buy” and an average target price of $83.75.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’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 transaction, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Up 1.3 %

NYSE:MKC opened at $82.67 on Monday. 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 stock has a market capitalization of $22.17 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The firm’s 50 day moving average is $76.57 and its 200 day moving average is $78.59. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated 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.