Thrivent Financial for Lutherans Sells 21,996 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Thrivent Financial for Lutherans cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 26.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,718 shares of the company’s stock after selling 21,996 shares during the period. Thrivent Financial for Lutherans’ holdings in McCormick & Company, Incorporated were worth $4,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Curio Wealth LLC acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $30,000. Albion Financial Group UT bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Twin Tree Management LP acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $38,000. Finally, Kentucky Trust Co acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $56,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MKC has been the subject of several research analyst reports. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. increased 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. Finally, Barclays decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, three have given 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.75.

McCormick & Company, Incorporated Stock Up 0.2 %

MKC stock opened at $80.35 on Tuesday. The firm has a market capitalization of $21.54 billion, a PE ratio of 27.42, a P/E/G ratio of 3.76 and a beta of 0.71. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The stock’s 50 day moving average is $78.58 and its 200-day moving average is $78.87.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating 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%. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’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 value 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 represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 23.80% of the stock is owned by insiders.

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.