Thrivent Financial for Lutherans Sells 21,996 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Thrivent Financial for Lutherans decreased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 26.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,718 shares of the company’s stock after selling 21,996 shares during the period. Thrivent Financial for Lutherans’ holdings in McCormick & Company, Incorporated were worth $4,705,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Curio Wealth LLC bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $30,000. Twin Tree Management LP purchased a new stake in McCormick & Company, Incorporated in the fourth quarter worth $33,000. Albion Financial Group UT bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Rosenberg Matthew Hamilton purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $38,000. Finally, Kentucky Trust Co bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth $56,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’s 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 completion of the sale, the director now owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of NYSE MKC opened at $80.35 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $78.58 and a 200-day moving average of $78.87. The firm has a market capitalization of $21.54 billion, a price-to-earnings ratio of 27.42, a PEG 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 released its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping 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.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MKC shares. Barclays lowered their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

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.