McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 243.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,017 shares of the company’s stock after buying an additional 17,734 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,907,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MKC. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at about $28,000. Albion Financial Group UT bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $38,000. Kennebec Savings Bank acquired a new stake in McCormick & Company, Incorporated during the third quarter valued at approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in McCormick & Company, Incorporated during the third quarter worth approximately $50,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MKC. JPMorgan Chase & Co. upped their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Barclays reduced their target price on 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, 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 note on Monday, December 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Moderate Buy” and an average target price of $83.75.

Insider Buying and Selling

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Up 0.8 %

NYSE:MKC opened at $79.25 on Friday. The business’s fifty day moving average price is $76.38 and its 200 day moving average price is $78.39. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.61 and a beta of 0.75. 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 has a 1-year low of $65.72 and a 1-year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results 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%. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share 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.