Borer Denton & Associates Inc. Purchases 569 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Borer Denton & Associates Inc. boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,998 shares of the company’s stock after acquiring an additional 569 shares during the quarter. McCormick & Company, Incorporated accounts for about 1.4% of Borer Denton & Associates Inc.’s investment portfolio, making the stock its 22nd largest holding. Borer Denton & Associates Inc.’s holdings in McCormick & Company, Incorporated were worth $4,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. International Private Wealth Advisors LLC increased its holdings in McCormick & Company, Incorporated by 3.9% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after buying an additional 136 shares during the period. Empower Advisory Group LLC grew its position in McCormick & Company, Incorporated by 1.7% during the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after purchasing an additional 138 shares during the period. Hunter Associates Investment Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 1.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after buying an additional 153 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in McCormick & Company, Incorporated by 1.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company’s stock worth $755,000 after acquiring an additional 154 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 3.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company’s stock valued at $427,000 after acquiring an additional 169 shares during the period. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated 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 directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $80.39 on Wednesday. The stock has a market cap of $21.56 billion, a PE ratio of 27.44, a P/E/G ratio of 3.76 and a beta of 0.71. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $78.75 and a 200-day simple moving average of $78.85. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. Equities analysts anticipate 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.