McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 14.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 938 shares of the company’s stock after selling 153 shares during the period. Sentry Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $72,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MKC. JPMorgan Chase & Co. boosted their price target 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. Barclays decreased 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. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective 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 assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $81.81 on Friday. The company has a market cap of $21.94 billion, a P/E ratio of 27.92, a PEG ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $85.49. The business’s 50-day simple moving average is $76.49 and its 200 day simple moving average is $78.53. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

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

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm’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 transaction 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. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.80% of the stock is currently owned by company insiders.

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.