McCormick & Company, Incorporated (NYSE:MKC) Position Reduced by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its position in McCormick & Company, Incorporated (NYSE:MKC) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,092 shares of the company’s stock after selling 1,985 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in McCormick & Company, Incorporated were worth $2,904,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in McCormick & Company, Incorporated by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,252 shares of the company’s stock valued at $2,407,000 after purchasing an additional 1,985 shares during the period. Integrated Advisors Network LLC grew its holdings in shares of McCormick & Company, Incorporated by 22.1% during the third quarter. Integrated Advisors Network LLC now owns 3,796 shares of the company’s stock valued at $312,000 after buying an additional 686 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in McCormick & Company, Incorporated by 3.8% during the third quarter. First Trust Direct Indexing L.P. now owns 9,365 shares of the company’s stock valued at $771,000 after buying an additional 340 shares during the period. HM Payson & Co. lifted its stake in McCormick & Company, Incorporated by 6.9% in the 3rd quarter. HM Payson & Co. now owns 3,873 shares of the company’s stock worth $319,000 after acquiring an additional 251 shares in the last quarter. Finally, Cigna Investments Inc. New purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth about $210,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $82.67 on Friday. The firm has a 50 day moving average of $76.57 and a two-hundred day moving average of $78.59. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $85.49. The company has a market capitalization of $22.17 billion, a price-to-earnings ratio of 28.22, a P/E/G ratio of 3.76 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data 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 net margin of 11.73% and a return on equity of 14.89%. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’s 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MKC. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. upped their price objective 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. Barclays cut their target price on shares of 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 shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Company Profile

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.