Charles Schwab Investment Management Inc. Buys 46,411 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Charles Schwab Investment Management Inc. grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,509,463 shares of the company's stock after acquiring an additional 46,411 shares during the period. Charles Schwab Investment Management Inc. owned 0.56% of McCormick & Company, Incorporated worth $115,081,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Hemenway Trust Co LLC grew its stake in McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company's stock worth $11,552,000 after purchasing 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. increased its stake in shares of McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company's stock valued at $3,298,000 after acquiring an additional 14,652 shares in the last quarter. DJE Kapital AG acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $4,228,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $234,000. 79.74% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms have commented on MKC. JPMorgan Chase & Co. lifted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. 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 McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Down 2.0 %

MKC traded down $1.66 during midday trading on Wednesday, reaching $81.52. 1,435,157 shares of the company were exchanged, compared to its average volume of 1,830,415. The company has a market cap of $21.86 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The company's fifty day moving average price is $77.39 and its 200 day moving average price is $78.83. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 6,177 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. 23.80% of the stock is currently owned by corporate insiders.

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.