Alberta Investment Management Corp Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Alberta Investment Management Corp acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 20,900 shares of the company's stock, valued at approximately $1,593,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MKC. Northcape Wealth Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 110.2% in the fourth quarter. Northcape Wealth Management LLC now owns 5,403 shares of the company's stock worth $412,000 after acquiring an additional 2,832 shares during the last quarter. Cardinal Capital Management increased its position in McCormick & Company, Incorporated by 2.2% during the 4th quarter. Cardinal Capital Management now owns 93,907 shares of the company's stock worth $7,201,000 after purchasing an additional 2,056 shares in the last quarter. D.A. Davidson & CO. raised its stake in McCormick & Company, Incorporated by 54.2% in the 4th quarter. D.A. Davidson & CO. now owns 21,973 shares of the company's stock valued at $1,675,000 after purchasing an additional 7,720 shares during the last quarter. Empower Advisory Group LLC raised its stake in McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock valued at $641,000 after purchasing an additional 138 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in McCormick & Company, Incorporated by 4.6% in the 4th quarter. CIBC Asset Management Inc now owns 38,436 shares of the company's stock valued at $2,930,000 after purchasing an additional 1,698 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Up 2.3 %

Shares of MKC stock traded up $1.83 on Tuesday, reaching $83.05. 914,334 shares of the stock were exchanged, compared to its average volume of 1,945,777. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a market cap of $22.27 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The firm has a 50 day moving average of $76.35 and a two-hundred day moving average of $78.46. 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 announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 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%. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm'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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MKC. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays reduced their price target 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. Finally, JPMorgan Chase & Co. raised 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Moderate Buy" and an average target price of $83.75.

McCormick & Company, Incorporated 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.