Proficio Capital Partners LLC Acquires New Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Proficio Capital Partners LLC acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 132,505 shares of the company’s stock, valued at approximately $10,102,000.

Other institutional investors have also recently bought and sold shares of the company. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $38,000. Kentucky Trust Co acquired a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $56,000. Assetmark Inc. grew its holdings in McCormick & Company, Incorporated by 165.5% during the third quarter. Assetmark Inc. now owns 754 shares of the company’s stock valued at $62,000 after purchasing an additional 470 shares during the period. Finally, VisionPoint Advisory Group LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $60,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. 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. 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. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. One equities research 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. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average price target of $83.75.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction 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 sale, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $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 through this hyperlink. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $80.29 on Friday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The firm has a fifty day simple moving average of $77.68 and a 200 day simple moving average of $78.87. The stock has a market capitalization of $21.53 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 3.76 and a beta of 0.71. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping 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%. Research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

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.