AXQ Capital LP Sells 17,105 Shares of McCormick & Company, Incorporated (NYSE:MKC)

AXQ Capital LP reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 84.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,227 shares of the company’s stock after selling 17,105 shares during the quarter. AXQ Capital LP’s holdings in McCormick & Company, Incorporated were worth $246,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Sei Investments Co. increased its stake in McCormick & Company, Incorporated by 18.1% in the 4th quarter. Sei Investments Co. now owns 161,478 shares of the company’s stock worth $12,311,000 after acquiring an additional 24,786 shares during the last quarter. Mizuho Securities USA LLC increased its stake in McCormick & Company, Incorporated by 46.3% in the 4th quarter. Mizuho Securities USA LLC now owns 23,902 shares of the company’s stock worth $1,822,000 after acquiring an additional 7,560 shares during the last quarter. Virtu Financial LLC increased its stake in McCormick & Company, Incorporated by 9.7% in the 4th quarter. Virtu Financial LLC now owns 7,566 shares of the company’s stock worth $577,000 after acquiring an additional 667 shares during the last quarter. Sciencast Management LP increased its stake in McCormick & Company, Incorporated by 18.0% in the 4th quarter. Sciencast Management LP now owns 39,798 shares of the company’s stock worth $3,034,000 after acquiring an additional 6,063 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in McCormick & Company, Incorporated in the 4th quarter worth about $37,000. 79.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was 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 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC opened at $80.01 on Monday. The stock’s 50 day simple moving average is $78.40 and its 200 day simple moving average is $78.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The firm has a market cap of $21.46 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 3.76 and a beta of 0.71.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on MKC shares. Barclays decreased their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. TD Cowen upgraded 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. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.