M&T Bank Corp Raises Holdings in McCormick & Company, Incorporated (NYSE:MKC)

M&T Bank Corp boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,118 shares of the company's stock after buying an additional 8,696 shares during the quarter. M&T Bank Corp's holdings in McCormick & Company, Incorporated were worth $7,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in McCormick & Company, Incorporated during the third quarter worth $28,000. Albion Financial Group UT bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $33,000. Kennebec Savings Bank bought a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $40,000. Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $38,000. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $50,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. 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. JPMorgan Chase & Co. lifted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research report on Friday, January 24th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the stock 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 assigned 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.75.

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McCormick & Company, Incorporated Stock Up 1.0 %

Shares of MKC stock traded up $0.81 on Friday, hitting $82.66. The stock had a trading volume of 3,602,932 shares, compared to its average volume of 2,053,480. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average price of $77.07 and a 200 day moving average price of $78.77. The company has a market cap of $22.17 billion, a PE ratio of 28.21, a P/E/G 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 $85.78.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. Research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction dated 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 directly owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.80% of the stock is currently owned by corporate insiders.

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.