Van Cleef Asset Management Inc Buys 1,535 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Van Cleef Asset Management Inc boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 208,320 shares of the company’s stock after purchasing an additional 1,535 shares during the period. McCormick & Company, Incorporated accounts for approximately 1.7% of Van Cleef Asset Management Inc’s portfolio, making the stock its 15th largest holding. Van Cleef Asset Management Inc’s holdings in McCormick & Company, Incorporated were worth $15,882,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MKC. State Street Corp increased its stake in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after acquiring an additional 1,114,706 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock worth $127,115,000 after buying an additional 568,276 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of McCormick & Company, Incorporated by 2,778.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock worth $37,606,000 after buying an additional 441,048 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in McCormick & Company, Incorporated by 321.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock valued at $34,298,000 after buying an additional 343,070 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in McCormick & Company, Incorporated in the third quarter valued at about $20,227,000. 79.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MKC shares. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price 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 raised their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. 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. Finally, Barclays cut their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $81.81 on Friday. The business has a 50-day moving average of $76.49 and a 200-day moving average of $78.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released 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 net margin of 11.73% and a return on equity of 14.89%. As a group, equities research 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.