Asset Management One Co. Ltd. Has $10.55 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Asset Management One Co. Ltd. increased its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,891 shares of the company's stock after buying an additional 19,491 shares during the quarter. Asset Management One Co. Ltd. owned about 0.05% of McCormick & Company, Incorporated worth $10,547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth approximately $20,227,000. Hemenway Trust Co LLC grew its holdings in McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company's stock worth $11,552,000 after buying an additional 58,511 shares in the last quarter. Wellington Management Group LLP grew its holdings in McCormick & Company, Incorporated by 21.7% in 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 in the last quarter. Oppenheimer & Co. Inc. lifted its position in McCormick & Company, Incorporated by 57.6% in the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company's stock worth $3,298,000 after purchasing an additional 14,652 shares during the period. Finally, Qsemble Capital Management LP acquired a new stake in McCormick & Company, Incorporated in the third quarter worth approximately $1,104,000. 79.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research analyst reports. Barclays cut 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. 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 report on Monday, December 9th. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research report on Friday, January 24th. One 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $83.75.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction on 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 completion of the sale, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC traded up $0.59 on Thursday, reaching $79.25. 1,402,111 shares of the company traded hands, compared to its average volume of 1,937,561. McCormick & Company, Incorporated has a fifty-two week low of $65.72 and a fifty-two week high of $85.49. The company's 50 day moving average is $76.38 and its 200-day moving average is $78.39. The stock has a market capitalization of $21.25 billion, a PE ratio of 27.05, a P/E/G ratio of 3.61 and a beta of 0.75. 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 announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. As a group, analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal 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.