Nuance Investments LLC Decreases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Nuance Investments LLC lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 39.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 364,020 shares of the company’s stock after selling 237,314 shares during the period. McCormick & Company, Incorporated makes up about 1.1% of Nuance Investments LLC’s investment portfolio, making the stock its 27th largest position. Nuance Investments LLC owned approximately 0.14% of McCormick & Company, Incorporated worth $27,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $30,000. Twin Tree Management LP purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $33,000. Albion Financial Group UT purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $33,000. Lee Danner & Bass Inc. bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $37,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $38,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their target price on shares of 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 dropped their target price on shares of 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Stock Performance

MKC opened at $80.39 on Wednesday. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The stock has a market cap of $21.56 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The business’s 50 day moving average is $78.75 and its 200-day moving average is $78.85. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm posted $0.63 EPS. The company’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction 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 sale, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 23.80% of the company’s stock.

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.