Pollock Investment Advisors LLC Invests $581,000 in McCormick & Company, Incorporated (NYSE:MKC)

Pollock Investment Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 7,618 shares of the company’s stock, valued at approximately $581,000. McCormick & Company, Incorporated comprises approximately 0.5% of Pollock Investment Advisors LLC’s portfolio, making the stock its 28th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Private Wealth Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 3.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after purchasing an additional 136 shares in the last quarter. Empower Advisory Group LLC boosted its holdings in shares of McCormick & Company, Incorporated by 1.7% during the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after buying an additional 138 shares in the last quarter. Hunter Associates Investment Management LLC increased its stake in shares of McCormick & Company, Incorporated by 1.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after acquiring an additional 153 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 3.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company’s stock worth $427,000 after acquiring an additional 169 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in McCormick & Company, Incorporated by 4.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock worth $320,000 after acquiring an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays decreased 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 note on Monday, January 27th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $80.29 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 firm has a market cap of $21.53 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The business has a 50-day simple moving average of $77.68 and a two-hundred day simple moving average of $78.87. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24.

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 the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. On average, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated 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.