Skandinaviska Enskilda Banken AB publ Increases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Skandinaviska Enskilda Banken AB publ raised its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,670 shares of the company’s stock after buying an additional 529 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in McCormick & Company, Incorporated were worth $4,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in MKC. Assetmark Inc. grew its holdings in McCormick & Company, Incorporated by 165.5% during the 3rd quarter. Assetmark Inc. now owns 754 shares of the company’s stock valued at $62,000 after buying an additional 470 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in McCormick & Company, Incorporated by 24.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $485,000 after buying an additional 1,144 shares in the last quarter. KBC Group NV grew its holdings in McCormick & Company, Incorporated by 29.6% during the 3rd quarter. KBC Group NV now owns 37,852 shares of the company’s stock valued at $3,115,000 after buying an additional 8,638 shares in the last quarter. Curi RMB Capital LLC boosted its position in shares of McCormick & Company, Incorporated by 8.6% during the 3rd quarter. Curi RMB Capital LLC now owns 3,983 shares of the company’s stock valued at $328,000 after acquiring an additional 316 shares during the last quarter. Finally, Metis Global Partners LLC boosted its position in shares of McCormick & Company, Incorporated by 1.7% during the 3rd quarter. Metis Global Partners LLC now owns 12,910 shares of the company’s stock valued at $1,062,000 after acquiring an additional 210 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’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 transaction, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of MKC opened at $80.29 on Monday. The company has a market cap of $21.53 billion, a PE ratio of 27.40, a P/E/G ratio of 3.76 and a beta of 0.71. The business has a fifty day moving average of $77.68 and a 200 day moving average of $78.87. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. 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 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%. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. Barclays lowered their target price on 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. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

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.