Allworth Financial LP Decreases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Allworth Financial LP cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 48.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,469 shares of the company’s stock after selling 4,184 shares during the period. Allworth Financial LP’s holdings in McCormick & Company, Incorporated were worth $327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MKC. Capital Performance Advisors LLP purchased a new position in McCormick & Company, Incorporated in the third quarter valued at $28,000. Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Rosenberg Matthew Hamilton purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at $38,000. Kennebec Savings Bank purchased a new position in McCormick & Company, Incorporated in the third quarter valued at $40,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in McCormick & Company, Incorporated in the third quarter valued at $50,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays decreased their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a report 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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $80.15 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 business’s 50 day moving average is $76.34 and its two-hundred day moving average is $78.40. McCormick & Company, Incorporated has a 12-month low of $65.72 and a 12-month high of $85.49. The stock has a market capitalization of $21.49 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 3.74 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results 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%. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insiders Place Their Bets

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is currently owned by insiders.

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.