Principal Financial Group Inc. Decreases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Principal Financial Group Inc. reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 307,669 shares of the company’s stock after selling 1,234 shares during the period. Principal Financial Group Inc. owned about 0.11% of McCormick & Company, Incorporated worth $23,457,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at $28,000. Albion Financial Group UT purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $38,000. Kennebec Savings Bank purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at $40,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at $50,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their target price 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. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One equities 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.75.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were 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 owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Up 1.2 %

Shares of MKC stock opened at $80.15 on Monday. McCormick & Company, Incorporated has a 1 year low of $65.72 and a 1 year high of $85.49. The firm has a fifty day moving average price of $76.33 and a 200-day moving average price of $78.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 27.36, a PEG 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 net margin of 11.73% and a return on equity of 14.89%. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share 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.