McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 600,518 shares of the company’s stock after selling 20,632 shares during the period. Corient Private Wealth LLC owned approximately 0.22% of McCormick & Company, Incorporated worth $45,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Albion Financial Group UT acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $38,000. Kentucky Trust Co bought a new position in McCormick & Company, Incorporated during the fourth quarter valued at about $56,000. VisionPoint Advisory Group LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth about $60,000. Finally, Assetmark Inc. raised its position in McCormick & Company, Incorporated by 165.5% in the third quarter. Assetmark Inc. now owns 754 shares of the company’s stock worth $62,000 after acquiring an additional 470 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MKC shares. Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Jefferies Financial Group raised 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 raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $81.90 on Tuesday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month 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. The stock has a market cap of $21.96 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The business has a fifty day simple moving average of $77.83 and a 200-day simple moving average of $78.89.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results 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 return on equity of 14.89% and a net margin of 11.73%. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated 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 owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.80% of the company’s stock.

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.