Empower Advisory Group LLC Increases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Empower Advisory Group LLC boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,402 shares of the company’s stock after purchasing an additional 138 shares during the quarter. Empower Advisory Group LLC’s holdings in McCormick & Company, Incorporated were worth $641,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MKC. CIBC Asset Management Inc raised its position in shares of McCormick & Company, Incorporated by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 38,436 shares of the company’s stock valued at $2,930,000 after buying an additional 1,698 shares in the last quarter. Mathes Company Inc. raised its position in shares of McCormick & Company, Incorporated by 3.2% during the 4th quarter. Mathes Company Inc. now owns 28,877 shares of the company’s stock valued at $2,202,000 after buying an additional 900 shares in the last quarter. Principal Securities Inc. raised its position in shares of McCormick & Company, Incorporated by 4.1% during the 4th quarter. Principal Securities Inc. now owns 5,322 shares of the company’s stock valued at $406,000 after buying an additional 208 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of McCormick & Company, Incorporated by 16.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock valued at $10,547,000 after buying an additional 19,491 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC raised its position in shares of McCormick & Company, Incorporated by 7.2% during the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 3,339 shares of the company’s stock valued at $255,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were 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 of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $75.91 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market capitalization of $20.36 billion, a P/E ratio of 25.91, a P/E/G ratio of 3.67 and a beta of 0.75. The company’s 50-day simple moving average is $76.56 and its two-hundred day simple moving average is $78.41. McCormick & Company, Incorporated has a one year low of $65.72 and a one year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (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%. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MKC. JPMorgan Chase & Co. upped 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 report on Friday, January 24th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. 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. Finally, Barclays cut their price target 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 analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Moderate Buy” and a consensus price target 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.