Mengis Capital Management Inc. Takes $294,000 Position in McCormick & Company, Incorporated (NYSE:MKC)

Mengis Capital Management Inc. purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,850 shares of the company’s stock, valued at approximately $294,000.

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

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $81.27 on Tuesday. The business’s 50 day moving average price is $76.35 and its two-hundred day moving average price is $78.46. The company has a market cap of $21.79 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 EPS 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, analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. Finally, Barclays lowered their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. 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’s stock. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus 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.