Bahl & Gaynor Inc. Sells 8,522 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Bahl & Gaynor Inc. reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 224,815 shares of the company's stock after selling 8,522 shares during the quarter. Bahl & Gaynor Inc. owned 0.08% of McCormick & Company, Incorporated worth $17,140,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. One investment 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.75.

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McCormick & Company, Incorporated Trading Up 1.0 %

Shares of MKC stock traded up $0.81 during mid-day trading on Friday, reaching $82.66. 3,602,932 shares of the stock traded hands, compared to its average volume of 2,053,480. The stock's fifty day simple moving average is $77.07 and its two-hundred day simple moving average is $78.76. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $85.78. The company has a market cap of $22.17 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal 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 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 completion of the transaction, the director now directly owns 6,177 shares in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.80% of the stock is owned by corporate insiders.

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.