Sciencast Management LP Buys 6,063 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Sciencast Management LP lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 18.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,798 shares of the company's stock after purchasing an additional 6,063 shares during the period. Sciencast Management LP's holdings in McCormick & Company, Incorporated were worth $3,034,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. State Street Corp raised its position in McCormick & Company, Incorporated by 7.8% during the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock worth $1,260,499,000 after acquiring an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of McCormick & Company, Incorporated by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company's stock worth $482,823,000 after purchasing an additional 54,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of McCormick & Company, Incorporated by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company's stock worth $247,158,000 after purchasing an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of McCormick & Company, Incorporated by 58.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock valued at $127,115,000 after purchasing an additional 568,276 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in McCormick & Company, Incorporated by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company's stock valued at $115,081,000 after purchasing an additional 46,411 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

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McCormick & Company, Incorporated Stock Performance

Shares of MKC traded up $0.62 during midday trading on Wednesday, reaching $80.85. 2,775,733 shares of the stock were exchanged, compared to its average volume of 1,839,692. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. 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 stock's 50 day simple moving average is $78.75 and its 200 day simple moving average is $78.85. The company has a market cap of $21.68 billion, a P/E ratio of 27.59, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company's quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 23.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on MKC. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. increased their price target on 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 reduced 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 research report on Monday, January 27th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, McCormick & Company, Incorporated has an average rating of "Moderate Buy" and an average target price of $83.75.

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.