Independent Advisor Alliance Decreases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Independent Advisor Alliance lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 55.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,709 shares of the company’s stock after selling 17,317 shares during the quarter. Independent Advisor Alliance’s holdings in McCormick & Company, Incorporated were worth $1,045,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $33,000. Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $38,000. Kentucky Trust Co purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $56,000. Assetmark Inc. increased its holdings in McCormick & Company, Incorporated by 165.5% in the 3rd quarter. Assetmark Inc. now owns 754 shares of the company’s stock worth $62,000 after acquiring an additional 470 shares during the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $60,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the subject of a number of recent analyst reports. 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. 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 report on Friday, January 24th. 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 report on Wednesday, January 8th. Finally, 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 report on Monday, December 9th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’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 completion of the sale, the director now owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $80.29 on Friday. The company has a market cap of $21.53 billion, a PE ratio of 27.40, a price-to-earnings-growth 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. The stock has a 50-day moving average price of $77.68 and a 200-day moving average price of $78.87. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) 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%. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Company 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.