Bay Colony Advisory Group Inc d b a Bay Colony Advisors Acquires 1,358 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 50.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,068 shares of the company’s stock after buying an additional 1,358 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in McCormick & Company, Incorporated were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MKC. Hemenway Trust Co LLC boosted its holdings in McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after purchasing an additional 58,511 shares in the last quarter. Wellington Management Group LLP raised its position in McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of McCormick & Company, Incorporated by 57.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after acquiring an additional 14,652 shares during the last quarter. DJE Kapital AG acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $4,228,000. Finally, Qsemble Capital Management LP acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $1,104,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays cut their target price on shares of 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, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. One research 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’s stock. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average price target of $83.75.

Insider Activity at McCormick & Company, Incorporated

In related 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 value of $2,163,926.76. Following the transaction, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Up 1.0 %

NYSE MKC opened at $82.66 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $85.78. The company has a 50 day moving average of $77.07 and a 200-day moving average of $78.77. The company has a market cap of $22.17 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly 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%. On average, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal 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.