Envestnet Portfolio Solutions Inc. Has $594,000 Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Envestnet Portfolio Solutions Inc. increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 18.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,790 shares of the company’s stock after purchasing an additional 1,229 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in McCormick & Company, Incorporated were worth $594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in McCormick & Company, Incorporated by 103.1% during the third quarter. Advisors Asset Management Inc. now owns 22,138 shares of the company’s stock worth $1,822,000 after purchasing an additional 11,240 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in McCormick & Company, Incorporated by 33.7% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,171 shares of the company’s stock worth $6,433,000 after buying an additional 19,692 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after buying an additional 30,696 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of McCormick & Company, Incorporated by 8.1% in the 3rd quarter. Raymond James Trust N.A. now owns 6,277 shares of the company’s stock valued at $517,000 after buying an additional 472 shares during the period. Finally, Meridian Wealth Management LLC acquired a new stake in McCormick & Company, Incorporated in the third quarter worth about $534,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.2 %

NYSE:MKC opened at $80.35 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The business’s 50-day simple moving average is $78.58 and its 200-day simple moving average is $78.87. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The stock has a market capitalization of $21.54 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results 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 net margin of 11.73% and a return on equity of 14.89%. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. 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.

Analyst Ratings Changes

A number of brokerages have issued reports on MKC. JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Barclays cut their price target 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.75.

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.