Mengis Capital Management Inc. Makes New $294,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

Mengis Capital Management Inc. purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,850 shares of the company's stock, valued at approximately $294,000.

A number of other large investors also recently modified their holdings of MKC. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated during the third quarter worth about $28,000. Albion Financial Group UT acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $38,000. Kennebec Savings Bank bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $40,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in McCormick & Company, Incorporated during the third quarter worth approximately $50,000. 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 McCormick & Company, Incorporated stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $1.03 on Friday, reaching $82.67. 2,088,343 shares of the company's stock were exchanged, compared to its average volume of 2,007,836. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $85.49. The company has a fifty day moving average of $76.49 and a 200-day moving average of $78.53. The company has a market capitalization of $22.17 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 3.76 and a beta of 0.75. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

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, 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%. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports 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 report on Monday, December 9th. Barclays dropped their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their target price 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, TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.75.

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.