KLP Kapitalforvaltning AS Buys Shares of 88,456 McCormick & Company, Incorporated (NYSE:MKC)

KLP Kapitalforvaltning AS purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 88,456 shares of the company’s stock, valued at approximately $6,778,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. International Private Wealth Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 3.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after buying an additional 136 shares during the last quarter. Empower Advisory Group LLC grew its position in McCormick & Company, Incorporated by 1.7% during the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after acquiring an additional 138 shares during the last quarter. Hunter Associates Investment Management LLC increased its holdings in McCormick & Company, Incorporated by 1.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after purchasing an additional 153 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in McCormick & Company, Incorporated by 1.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company’s stock valued at $755,000 after purchasing an additional 154 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated by 3.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company’s stock valued at $427,000 after purchasing an additional 169 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on MKC. JPMorgan Chase & Co. boosted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. 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. Finally, Barclays dropped 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 report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of NYSE MKC opened at $80.35 on Tuesday. 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 company’s fifty day simple moving average is $78.58 and its 200 day simple moving average is $78.87. The firm has a market cap of $21.54 billion, a PE ratio of 27.42, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24.

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 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 earnings per share for the current fiscal year.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were 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 directly owns 6,177 shares of the company’s stock, valued at $475,814.31. The trade was 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 link. Insiders own 23.80% of the company’s stock.

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.