McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,436 shares of the company’s stock after purchasing an additional 1,698 shares during the quarter. CIBC Asset Management Inc’s holdings in McCormick & Company, Incorporated were worth $2,930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth about $28,000. Albion Financial Group UT acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $33,000. Kennebec Savings Bank acquired a new position in shares of McCormick & Company, Incorporated in the third quarter worth about $40,000. Rosenberg Matthew Hamilton acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $38,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in shares of McCormick & Company, Incorporated in the third quarter worth about $50,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $79.25 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. The stock has a 50 day simple moving average of $76.38 and a 200-day simple moving average of $78.39. The company has a market cap of $21.25 billion, a PE ratio of 27.05, a P/E/G ratio of 3.61 and a beta of 0.75. McCormick & Company, Incorporated has a 12-month low of $65.72 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) 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%. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays cut their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock 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 assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction on Thursday, February 13th. The stock was 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 approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 23.80% of the company’s stock.

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.