Bank of New York Mellon Corp Sells 22,818 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Bank of New York Mellon Corp lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,558,893 shares of the company’s stock after selling 22,818 shares during the quarter. Bank of New York Mellon Corp’s holdings in McCormick & Company, Incorporated were worth $118,850,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mengis Capital Management Inc. bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $294,000. Crestwood Advisors Group LLC boosted its position in McCormick & Company, Incorporated by 0.3% during the fourth quarter. Crestwood Advisors Group LLC now owns 569,234 shares of the company’s stock worth $43,398,000 after purchasing an additional 1,472 shares during the period. Roffman Miller Associates Inc. PA boosted its position in McCormick & Company, Incorporated by 1.3% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 376,363 shares of the company’s stock worth $28,694,000 after purchasing an additional 4,731 shares during the period. Y Intercept Hong Kong Ltd bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $374,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in McCormick & Company, Incorporated by 3.0% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 47,844 shares of the company’s stock worth $3,648,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MKC shares. Barclays cut their price objective 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. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their price objective 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. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction that occurred 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 transaction, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Up 1.3 %

Shares of MKC opened at $82.67 on Friday. The firm’s 50 day simple moving average is $76.57 and its 200 day simple moving average is $78.59. The company has a market capitalization of $22.17 billion, a P/E ratio of 28.22, a P/E/G ratio of 3.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share 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 forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal 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.