Amundi Has $102.28 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Amundi lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 37.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,372,446 shares of the company's stock after purchasing an additional 374,559 shares during the period. Amundi owned approximately 0.51% of McCormick & Company, Incorporated worth $102,275,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Hemenway Trust Co LLC increased its stake in shares of McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company's stock valued at $11,552,000 after buying an additional 58,511 shares during the period. Wellington Management Group LLP grew its position in shares of McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company's stock worth $11,500,000 after buying an additional 24,881 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of McCormick & Company, Incorporated by 57.6% during the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company's stock worth $3,298,000 after buying an additional 14,652 shares during the last quarter. DJE Kapital AG acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $4,228,000. Finally, SBI Securities Co. Ltd. bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $234,000. 79.74% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

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

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Stock Down 1.6 %

Shares of McCormick & Company, Incorporated stock traded down $1.35 on Wednesday, hitting $81.84. The company had a trading volume of 1,019,205 shares, compared to its average volume of 1,828,189. The firm has a market capitalization of $21.94 billion, a P/E ratio of 27.95, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The stock has a 50-day moving average of $77.39 and a 200-day moving average of $78.83. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

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%. Research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

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.