ING Groep NV Cuts Position in McCormick & Company, Incorporated (NYSE:MKC)

ING Groep NV lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 38.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 20,610 shares of the company's stock after selling 13,095 shares during the period. ING Groep NV's holdings in McCormick & Company, Incorporated were worth $1,571,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MKC. State Street Corp raised its holdings in shares of McCormick & Company, Incorporated by 7.8% during the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock valued at $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Geode Capital Management LLC grew its position in McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company's stock worth $482,823,000 after purchasing an additional 54,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in McCormick & Company, Incorporated by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company's stock valued at $247,158,000 after buying an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. raised its stake in McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock valued at $127,115,000 after buying an additional 568,276 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company's stock valued at $120,409,000 after buying an additional 30,696 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $1.65 during mid-day trading on Thursday, reaching $81.81. 2,370,493 shares of the company traded hands, compared to its average volume of 2,005,713. The company's 50 day moving average price is $76.42 and its 200-day moving average price is $78.51. The firm has a market cap of $21.94 billion, a PE ratio of 27.92, a PEG ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $85.49. 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 issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling

In other McCormick & Company, Incorporated 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 sale, the director now directly owns 6,177 shares of the company's stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MKC has been the subject of several research analyst reports. Barclays cut 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. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. increased 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, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.75.

McCormick & Company, Incorporated 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.