Y Intercept Hong Kong Ltd Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Y Intercept Hong Kong Ltd bought a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,902 shares of the company's stock, valued at approximately $374,000.

Several other hedge funds have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. Albion Financial Group UT acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Rosenberg Matthew Hamilton purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth about $38,000. Kennebec Savings Bank acquired 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. purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $50,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MKC has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target 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. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Barclays lowered 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 note on Monday, January 27th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $83.75.

Remove Ads

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 6,177 shares in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Stock Up 2.1 %

MKC stock traded up $1.69 during midday trading on Friday, hitting $83.54. 1,871,909 shares of the company's stock were exchanged, compared to its average volume of 2,012,380. The firm has a 50 day moving average price of $76.96 and a 200-day moving average price of $78.73. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $85.78. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth 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, 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%. On average, analysts anticipate 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.