Redmond Asset Management LLC Buys Shares of 9,696 McCormick & Company, Incorporated (NYSE:MKC)

Redmond Asset Management LLC purchased a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,696 shares of the company's stock, valued at approximately $739,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MKC. Blue Trust Inc. boosted its stake in McCormick & Company, Incorporated by 125.9% in the 3rd quarter. Blue Trust Inc. now owns 2,087 shares of the company's stock worth $172,000 after purchasing an additional 1,163 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 5.7% during the third quarter. Sequoia Financial Advisors LLC now owns 5,426 shares of the company's stock worth $447,000 after acquiring an additional 293 shares during the last quarter. Eastern Bank purchased a new position in McCormick & Company, Incorporated during the third quarter valued at $70,000. Private Advisor Group LLC increased its holdings in McCormick & Company, Incorporated by 2.8% in the 3rd quarter. Private Advisor Group LLC now owns 58,926 shares of the company's stock valued at $4,850,000 after acquiring an additional 1,603 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in McCormick & Company, Incorporated by 7,350.5% in the 3rd quarter. International Assets Investment Management LLC now owns 91,865 shares of the company's stock valued at $7,560,000 after acquiring an additional 90,632 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price 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 price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Barclays cut their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.75.

McCormick & Company, Incorporated Trading Down 3.3 %

Shares of McCormick & Company, Incorporated stock traded down $2.70 on Wednesday, reaching $80.11. The company had a trading volume of 2,140,893 shares, compared to its average volume of 1,995,855. The firm has a market cap of $21.48 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 3.76 and a beta of 0.75. 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's 50-day moving average price is $76.40 and its two-hundred day moving average price is $78.50. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results 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 net margin of 11.73% and a return on equity of 14.89%. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction 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 sale, the director now directly owns 6,177 shares of the company's stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 23.80% of the company's stock.

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.