McCormick & Company, Incorporated (NYSE:MKC) Holdings Raised by Cibc World Markets Corp

Cibc World Markets Corp increased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 15.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,925 shares of the company’s stock after purchasing an additional 13,005 shares during the quarter. Cibc World Markets Corp’s holdings in McCormick & Company, Incorporated were worth $7,542,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. lifted its position in shares of McCormick & Company, Incorporated by 165.5% in the 3rd quarter. Assetmark Inc. now owns 754 shares of the company’s stock valued at $62,000 after acquiring an additional 470 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in McCormick & Company, Incorporated by 24.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $485,000 after purchasing an additional 1,144 shares in the last quarter. CIBC Asset Management Inc raised its stake in McCormick & Company, Incorporated by 8.2% during the 3rd quarter. CIBC Asset Management Inc now owns 36,738 shares of the company’s stock valued at $3,024,000 after purchasing an additional 2,794 shares during the period. Natixis Advisors LLC lifted its holdings in shares of McCormick & Company, Incorporated by 12.1% in the third quarter. Natixis Advisors LLC now owns 79,890 shares of the company’s stock valued at $6,575,000 after purchasing an additional 8,636 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of McCormick & Company, Incorporated by 526.9% in the third quarter. Thrivent Financial for Lutherans now owns 83,714 shares of the company’s stock valued at $6,890,000 after purchasing an additional 70,361 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.9 %

Shares of NYSE MKC opened at $81.16 on Wednesday. The stock has a market cap of $21.76 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 3.76 and a beta of 0.71. The business has a 50 day simple moving average of $77.97 and a 200 day simple moving average of $78.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MKC shares. 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. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.75.

Insiders Place Their Bets

In other news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction that occurred 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 transaction, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 23.80% of the company’s stock.

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.