McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lowered its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,322 shares of the company's stock after selling 7,595 shares during the period. AMF Tjanstepension AB's holdings in McCormick & Company, Incorporated were worth $7,815,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of MKC. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at approximately $28,000. Albion Financial Group UT purchased a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth $33,000. Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated during the fourth quarter valued at $38,000. Kennebec Savings Bank purchased a new stake in McCormick & Company, Incorporated in the third quarter valued at $40,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $50,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated 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 sale, the director now directly owns 6,177 shares in the company, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 23.80% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have recently issued reports on MKC shares. Barclays decreased 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. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. raised their price objective 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. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. One 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 stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Moderate Buy" and an average target price of $83.75.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded down $1.58 on Wednesday, reaching $81.60. The company's stock had a trading volume of 2,560,024 shares, compared to its average volume of 1,834,192. 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 company has a market capitalization of $21.88 billion, a P/E ratio of 27.85, a PEG ratio of 3.76 and a beta of 0.71. The stock has a 50-day moving average price of $77.39 and a 200-day moving average price of $78.83. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping 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%. Analysts expect 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.