McCormick & Company, Incorporated (NYSE:MKC) Position Boosted by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 18.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,790 shares of the company’s stock after purchasing an additional 1,229 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in McCormick & Company, Incorporated were worth $594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pollock Investment Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $581,000. Natixis Advisors LLC raised its position in shares of McCormick & Company, Incorporated by 6.7% during the fourth quarter. Natixis Advisors LLC now owns 85,239 shares of the company’s stock worth $6,499,000 after purchasing an additional 5,349 shares during the period. Ironwood Investment Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 3.4% during the fourth quarter. Ironwood Investment Management LLC now owns 11,540 shares of the company’s stock valued at $880,000 after purchasing an additional 380 shares during the last quarter. LBP AM SA acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $6,270,000. Finally, Madison Investment Advisors LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $1,456,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Up 0.2 %

McCormick & Company, Incorporated stock opened at $80.35 on Tuesday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a market cap of $21.54 billion, a P/E ratio of 27.42, a P/E/G ratio of 3.76 and a beta of 0.71. The company’s fifty day simple moving average is $78.58 and its 200-day simple moving average is $78.87.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated 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 sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. 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 corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on MKC. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays reduced their price target 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. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Moderate Buy” and an average target price of $83.75.

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.