Impax Asset Management Group plc Sells 48,716 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Impax Asset Management Group plc trimmed its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 682,968 shares of the company's stock after selling 48,716 shares during the quarter. Impax Asset Management Group plc owned approximately 0.25% of McCormick & Company, Incorporated worth $52,069,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MKC. State Street Corp raised its stake in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock valued at $1,260,499,000 after buying an additional 1,114,706 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of 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 worth $127,115,000 after acquiring an additional 568,276 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of McCormick & Company, Incorporated by 2,778.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company's stock worth $37,606,000 after acquiring an additional 441,048 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in McCormick & Company, Incorporated by 321.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company's stock valued at $34,298,000 after acquiring an additional 343,070 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at $20,227,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

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 shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 23.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MKC. JPMorgan Chase & Co. increased their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research report on Friday, January 24th. Barclays decreased 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 upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded up $1.65 during mid-day trading on Thursday, hitting $81.81. 2,370,493 shares of the company's stock were exchanged, compared to its average volume of 2,005,713. 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 has a 52 week low of $66.88 and a 52 week high of $85.49. The stock's 50-day simple moving average is $76.42 and its 200-day simple moving average is $78.51. The firm has a market cap of $21.94 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75.

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 (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, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current 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.