Alberta Investment Management Corp Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Alberta Investment Management Corp purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, Holdings Channel reports. The fund purchased 20,900 shares of the company’s stock, valued at approximately $1,593,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Northcape Wealth Management LLC raised its holdings in McCormick & Company, Incorporated by 110.2% during the fourth quarter. Northcape Wealth Management LLC now owns 5,403 shares of the company’s stock valued at $412,000 after buying an additional 2,832 shares in the last quarter. Cardinal Capital Management increased its holdings in shares of McCormick & Company, Incorporated by 2.2% during the 4th quarter. Cardinal Capital Management now owns 93,907 shares of the company’s stock valued at $7,201,000 after acquiring an additional 2,056 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of McCormick & Company, Incorporated by 54.2% during the 4th quarter. D.A. Davidson & CO. now owns 21,973 shares of the company’s stock valued at $1,675,000 after acquiring an additional 7,720 shares during the last quarter. Empower Advisory Group LLC raised its stake in shares of McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after acquiring an additional 138 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in McCormick & Company, Incorporated by 4.6% in the 4th quarter. CIBC Asset Management Inc now owns 38,436 shares of the company’s stock worth $2,930,000 after purchasing an additional 1,698 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on MKC shares. Barclays lowered their price target 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. JPMorgan Chase & Co. raised 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. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.75.

Insiders Place Their Bets

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $80.15 on Friday. 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 one year low of $65.72 and a one year high of $85.49. The company has a fifty day moving average price of $76.34 and a 200 day moving average price of $78.40. The stock has a market cap of $21.49 billion, a P/E ratio of 27.36, a PEG ratio of 3.74 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. 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.