Allworth Financial LP Sells 4,184 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Allworth Financial LP reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 48.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,469 shares of the company's stock after selling 4,184 shares during the quarter. Allworth Financial LP's holdings in McCormick & Company, Incorporated were worth $327,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MKC. Capital Performance Advisors LLP purchased a new position in shares of McCormick & Company, Incorporated in the third quarter worth $28,000. Albion Financial Group UT bought a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $33,000. Rosenberg Matthew Hamilton purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth about $38,000. Kennebec Savings Bank bought a new position in McCormick & Company, Incorporated during the 3rd quarter valued at about $40,000. Finally, Sanctuary Wealth Management L.L.C. bought a new position in McCormick & Company, Incorporated during the 3rd quarter valued at about $50,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Margaret M. V. Preston sold 28,092 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value 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 represents a 81.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 23.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MKC shares. 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 research note on Wednesday, January 8th. 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 research report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock traded up $1.54 during mid-day trading on Tuesday, reaching $82.76. 2,496,874 shares of the company's stock traded hands, compared to its average volume of 1,991,826. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The firm has a market capitalization of $22.19 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $85.49. The firm has a 50 day moving average price of $76.40 and a two-hundred day moving average price of $78.50.

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

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.