McCormick & Company, Incorporated (NYSE:MKC) Holdings Cut by Hilton Capital Management LLC

Hilton Capital Management LLC lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 11.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,115 shares of the company’s stock after selling 7,297 shares during the period. Hilton Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $4,507,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MKC. LBP AM SA acquired a new stake in McCormick & Company, Incorporated during the fourth quarter valued at $6,270,000. Madison Investment Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $1,456,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of McCormick & Company, Incorporated by 1.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 54,670 shares of the company’s stock valued at $4,125,000 after buying an additional 529 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in McCormick & Company, Incorporated by 1.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 26,150 shares of the company’s stock worth $1,994,000 after buying an additional 488 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 1.4% during the 4th quarter. Great Lakes Advisors LLC now owns 18,841 shares of the company’s stock valued at $1,436,000 after purchasing an additional 264 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Jefferies Financial Group upgraded 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. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays cut 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 report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average price target of $83.75.

Insiders Place Their Bets

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on 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 sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Down 1.2 %

Shares of McCormick & Company, Incorporated stock opened at $80.53 on Friday. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The stock has a market capitalization of $21.59 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The company has a 50-day simple moving average of $77.59 and a 200 day simple moving average of $78.87. 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 (NYSE:MKC) last posted its quarterly earnings data 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%. Research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal 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.