Impax Asset Management Group plc Sells 48,716 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Impax Asset Management Group plc decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 682,968 shares of the company’s stock after selling 48,716 shares during the quarter. Impax Asset Management Group plc’s holdings in McCormick & Company, Incorporated were worth $52,069,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. International Private Wealth Advisors LLC raised its holdings in McCormick & Company, Incorporated by 3.9% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after purchasing an additional 136 shares during the period. Empower Advisory Group LLC grew its position in McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after acquiring an additional 138 shares during the last quarter. Hunter Associates Investment Management LLC increased its position in shares of McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after acquiring an additional 153 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 4.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock valued at $320,000 after purchasing an additional 170 shares in the last quarter. Finally, Aurora Investment Counsel raised its position in shares of McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock worth $695,000 after acquiring an additional 172 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MKC. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Barclays dropped 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 report on Monday, January 27th. Finally, JPMorgan Chase & Co. increased 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 note on Friday, January 24th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $80.15 on Monday. The company’s fifty day simple moving average is $76.33 and its 200-day simple moving average is $78.44. 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 52 week low of $65.72 and a 52 week high of $85.49. The company has a market cap of $21.49 billion, a PE ratio of 27.36, a P/E/G ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results 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%. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

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.