400 Shares in McCormick & Company, Incorporated (NYSE:MKC) Purchased by Align Wealth Management LLC

Align Wealth Management LLC acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC – Get Rating) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 400 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MKC. Yousif Capital Management LLC raised its holdings in McCormick & Company, Incorporated by 4.9% in the fourth quarter. Yousif Capital Management LLC now owns 127,827 shares of the company’s stock worth $10,596,000 after purchasing an additional 5,945 shares in the last quarter. General Partner Inc. purchased a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $60,000. WealthPlan Investment Management LLC purchased a new stake in McCormick & Company, Incorporated in the third quarter worth about $318,000. Robeco Institutional Asset Management B.V. increased its stake in shares of McCormick & Company, Incorporated by 4.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 35,257 shares of the company’s stock valued at $2,512,000 after purchasing an additional 1,361 shares in the last quarter. Finally, Bridgefront Capital LLC lifted its holdings in shares of McCormick & Company, Incorporated by 55.7% during the third quarter. Bridgefront Capital LLC now owns 4,214 shares of the company’s stock valued at $300,000 after purchasing an additional 1,508 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $72.62 on Friday. The stock has a market capitalization of $19.47 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 3.98 and a beta of 0.56. McCormick & Company, Incorporated has a 12-month low of $70.60 and a 12-month high of $105.19. The company has a current ratio of 0.70, a quick ratio of 0.30 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $75.65 and its 200 day simple moving average is $78.85.

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.13). The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.77 billion. McCormick & Company, Incorporated had a net margin of 10.74% and a return on equity of 14.76%. McCormick & Company, Incorporated’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. As a group, research analysts forecast that McCormick & Company, Incorporated will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MKC. Sanford C. Bernstein raised McCormick & Company, Incorporated from a “market perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Friday, January 27th. StockNews.com began coverage on McCormick & Company, Incorporated in a research report on Thursday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $66.00 to $63.00 and set an “underweight” rating on the stock in a research report on Friday, January 27th. UBS Group initiated coverage on McCormick & Company, Incorporated in a research report on Friday, March 10th. They issued a “sell” rating and a $71.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on McCormick & Company, Incorporated from $83.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday, January 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $81.14.

Insider Activity

In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Friday, February 17th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the transaction, the director now directly owns 38,137 shares of the company’s stock, valued at approximately $2,860,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 19.00% of the company’s stock.

About McCormick & Company, Incorporated

(Get Rating)

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.