National Pension Service Sells 29,861 Shares of McCormick & Company, Incorporated (NYSE:MKC)

National Pension Service reduced its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,807 shares of the company's stock after selling 29,861 shares during the period. National Pension Service owned 0.15% of McCormick & Company, Incorporated worth $29,719,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MKC. State Street Corp lifted 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. Point72 Asset Management L.P. raised its stake in McCormick & Company, Incorporated by 58.2% during the third 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. Benjamin Edwards Inc. raised its stake in McCormick & Company, Incorporated by 2,778.8% during the third quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company's stock valued at $37,606,000 after buying an additional 441,048 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of 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 worth $34,298,000 after purchasing an additional 343,070 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth about $20,227,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MKC has been the subject of several recent analyst reports. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays decreased their price objective on shares of 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. Finally, JPMorgan Chase & Co. boosted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.75.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm's 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $2.12 during trading on Monday, hitting $84.73. The company's stock had a trading volume of 2,234,798 shares, compared to its average volume of 2,013,505. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The firm has a market cap of $22.72 billion, a price-to-earnings ratio of 28.92, a P/E/G ratio of 3.76 and a beta of 0.75. The company has a 50-day moving average of $76.70 and a 200-day moving average of $78.65. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share 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.