New York Life Investment Management LLC Has $2.86 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

New York Life Investment Management LLC raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,511 shares of the company’s stock after purchasing an additional 175 shares during the quarter. New York Life Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,860,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter worth $28,000. Albion Financial Group UT purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $33,000. Rosenberg Matthew Hamilton acquired a new stake in McCormick & Company, Incorporated during 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. acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth approximately $50,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MKC. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. upped 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. Finally, Barclays dropped their price target 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $82.67 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $85.49. The firm’s 50 day moving average price is $76.57 and its two-hundred day moving average price is $78.59. The stock has a market cap of $22.17 billion, a PE ratio of 28.22, a PEG ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. As a group, analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Activity

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 sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated 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.