McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,283 shares of the company’s stock after selling 6,794 shares during the period. Victory Capital Management Inc.’s holdings in McCormick & Company, Incorporated were worth $15,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of 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 buying an additional 24,881 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of McCormick & Company, Incorporated by 57.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after buying an additional 14,652 shares during the last quarter. DJE Kapital AG acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $4,228,000. SBI Securities Co. Ltd. acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $234,000. Finally, Qsemble Capital Management LP acquired a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at approximately $1,104,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented 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. Barclays cut their price objective on 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. JPMorgan Chase & Co. boosted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Trading Down 1.9 %

NYSE:MKC opened at $81.60 on Thursday. The stock has a 50-day simple moving average of $77.50 and a 200-day simple moving average of $78.85. The stock has a market cap of $21.88 billion, a P/E ratio of 27.85, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. 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 (NYSE:MKC) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value 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. This represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.