McCormick & Company, Incorporated (NYSE:MKC) Holdings Cut by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 334,028 shares of the company’s stock after selling 4,369 shares during the period. Bradley Foster & Sargent Inc. CT owned about 0.12% of McCormick & Company, Incorporated worth $25,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $20,227,000. Hemenway Trust Co LLC boosted its holdings in McCormick & Company, Incorporated by 71.5% in the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after purchasing an additional 58,511 shares in the last quarter. Wellington Management Group LLP increased its position in McCormick & Company, Incorporated by 21.7% during the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after buying an additional 24,881 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in McCormick & Company, Incorporated by 57.6% during the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after buying an additional 14,652 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter worth about $1,104,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $79.25 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The company has a 50-day moving average of $76.34 and a 200-day moving average of $78.40. McCormick & Company, Incorporated has a 52 week low of $65.72 and a 52 week high of $85.49. The company has a market capitalization of $21.25 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.74 and a beta of 0.75.

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

Insider Activity

In related 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 completion of the sale, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Barclays reduced their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note 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. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the stock 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 stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average 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.