Sigma Planning Corp Boosts Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Sigma Planning Corp increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,562 shares of the company’s stock after purchasing an additional 1,009 shares during the quarter. Sigma Planning Corp’s holdings in McCormick & Company, Incorporated were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $20,227,000. Hemenway Trust Co LLC increased its position in McCormick & Company, Incorporated by 71.5% during the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after purchasing an additional 58,511 shares in the last quarter. Wellington Management Group LLP increased its position in McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after buying an additional 14,652 shares during the period. Finally, Qsemble Capital Management LP purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at about $1,104,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. TD Cowen upgraded 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 report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Barclays lowered their price target 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. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $81.81 on Friday. The firm has a market capitalization of $21.94 billion, a P/E ratio of 27.92, a P/E/G ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $85.49. 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 business’s 50-day simple moving average is $76.49 and its 200-day simple moving average is $78.53.

McCormick & Company, Incorporated (NYSE:MKC) last released 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%. Equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Buying and Selling

In related 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 transaction, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 23.80% of the stock is currently owned by corporate 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.