McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,558,893 shares of the company's stock after selling 22,818 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of McCormick & Company, Incorporated worth $118,850,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue increased its position in McCormick & Company, Incorporated by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,252 shares of the company's stock valued at $2,407,000 after buying an additional 1,985 shares in the last quarter. Integrated Advisors Network LLC grew its stake in shares of McCormick & Company, Incorporated by 22.1% during the third quarter. Integrated Advisors Network LLC now owns 3,796 shares of the company's stock worth $312,000 after acquiring an additional 686 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of McCormick & Company, Incorporated by 3.8% during the third quarter. First Trust Direct Indexing L.P. now owns 9,365 shares of the company's stock worth $771,000 after acquiring an additional 340 shares during the last quarter. HM Payson & Co. increased its holdings in shares of McCormick & Company, Incorporated by 6.9% during the third quarter. HM Payson & Co. now owns 3,873 shares of the company's stock valued at $319,000 after acquiring an additional 251 shares in the last quarter. Finally, Cigna Investments Inc. New purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $210,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated 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. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded up $2.12 during mid-day trading on Monday, hitting $84.73. The company's stock had a trading volume of 2,234,798 shares, compared to its average volume of 2,013,505. The business's fifty day moving average is $76.70 and its two-hundred day moving average is $78.65. The stock has a market cap of $22.72 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 3.76 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 has a 1 year low of $66.88 and a 1 year high of $85.49.

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, 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%. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MKC shares. Barclays cut their price target on shares of 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. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price objective for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on 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, Jefferies Financial Group upgraded 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 research note on Monday, December 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $83.75.

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.