Sequoia Financial Advisors LLC Raises Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Sequoia Financial Advisors LLC lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,595 shares of the company’s stock after buying an additional 169 shares during the period. Sequoia Financial Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $427,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. International Private Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 136 shares during the period. Empower Advisory Group LLC lifted its position in McCormick & Company, Incorporated by 1.7% in the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after buying an additional 138 shares during the last quarter. Hunter Associates Investment Management LLC boosted its stake in McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after buying an additional 153 shares during the period. Kingsview Wealth Management LLC increased its position in McCormick & Company, Incorporated by 4.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock valued at $320,000 after acquiring an additional 170 shares during the last quarter. Finally, Aurora Investment Counsel increased its position in McCormick & Company, Incorporated by 2.1% during the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock valued at $695,000 after acquiring an additional 172 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MKC shares. JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Barclays cut 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. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded 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 research note on Monday, December 9th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Stock Down 0.9 %

Shares of NYSE MKC opened at $81.16 on Wednesday. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The firm has a market capitalization of $21.76 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 3.76 and a beta of 0.71. The stock has a 50 day moving average price of $77.97 and a 200 day moving average price of $78.89. 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 (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 analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the company’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 completion of the sale, the director now owns 6,177 shares in the company, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 23.80% of the stock is owned by company insiders.

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.