Alecta Tjanstepension Omsesidigt Sells 190,100 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Alecta Tjanstepension Omsesidigt reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 14.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,159,900 shares of the company’s stock after selling 190,100 shares during the period. Alecta Tjanstepension Omsesidigt owned 0.43% of McCormick & Company, Incorporated worth $88,442,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MKC. International Assets Investment Management LLC raised its position in shares of McCormick & Company, Incorporated by 7,350.5% in the third quarter. International Assets Investment Management LLC now owns 91,865 shares of the company’s stock valued at $7,560,000 after purchasing an additional 90,632 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in McCormick & Company, Incorporated by 27.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,881 shares of the company’s stock valued at $2,487,000 after acquiring an additional 6,408 shares during the period. Forsta AP Fonden lifted its position in shares of McCormick & Company, Incorporated by 8.3% during the third quarter. Forsta AP Fonden now owns 45,600 shares of the company’s stock worth $3,753,000 after acquiring an additional 3,500 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of McCormick & Company, Incorporated by 2.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 50,897 shares of the company’s stock worth $4,212,000 after acquiring an additional 1,150 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of McCormick & Company, Incorporated by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 29,252 shares of the company’s stock valued at $2,407,000 after purchasing an additional 1,985 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. Barclays lowered their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.75.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’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 transaction, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Down 3.3 %

NYSE MKC opened at $80.11 on Thursday. 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’s 50-day simple moving average is $76.42 and its two-hundred day simple moving average is $78.51. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $85.49. The company has a market capitalization of $21.48 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 3.76 and a beta of 0.75.

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

McCormick & Company, Incorporated Company 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.