SBI Securities Co. Ltd. Invests $234,000 in McCormick & Company, Incorporated (NYSE:MKC)

SBI Securities Co. Ltd. bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,067 shares of the company's stock, valued at approximately $234,000.

Several other hedge funds have also made changes to their positions in MKC. Chicago Partners Investment Group LLC acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $227,000. Janney Montgomery Scott LLC acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $20,227,000. Van ECK Associates Corp boosted its stake in shares of McCormick & Company, Incorporated by 7.2% during the third quarter. Van ECK Associates Corp now owns 6,964 shares of the company's stock worth $553,000 after buying an additional 465 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of McCormick & Company, Incorporated by 409.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 106,800 shares of the company's stock worth $8,790,000 after buying an additional 85,835 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of McCormick & Company, Incorporated by 0.7% during the third quarter. Asset Management One Co. Ltd. now owns 117,400 shares of the company's stock worth $9,662,000 after buying an additional 839 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock traded up $0.81 during midday trading on Friday, reaching $82.66. 3,602,932 shares of the company traded hands, compared to its average volume of 2,053,480. The firm's 50 day simple moving average is $77.07 and its two-hundred day simple moving average is $78.77. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $85.78. 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 firm has a market cap of $22.17 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

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

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm's 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 completion of the transaction, the director now directly owns 6,177 shares of the company's stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 23.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MKC. JPMorgan Chase & Co. increased their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. Barclays reduced their price objective 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. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.