Alecta Tjanstepension Omsesidigt Has $88.44 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Alecta Tjanstepension Omsesidigt lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,159,900 shares of the company's stock after selling 190,100 shares during the quarter. Alecta Tjanstepension Omsesidigt owned 0.43% of McCormick & Company, Incorporated worth $88,442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at about $28,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Kennebec Savings Bank acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $40,000. Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $38,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in McCormick & Company, Incorporated during the third quarter worth approximately $50,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MKC shares. Barclays dropped their price objective on 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. JPMorgan Chase & Co. boosted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research report on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.75.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded up $1.03 during mid-day trading on Friday, reaching $82.67. The company had a trading volume of 2,088,343 shares, compared to its average volume of 2,007,836. The business has a fifty day simple moving average of $76.57 and a 200 day simple moving average of $78.59. The company has a market cap of $22.17 billion, a P/E ratio of 28.22, a P/E/G ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $85.49. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating 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, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm'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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.80% of the company's stock.

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.