Amalgamated Bank Lowers Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Amalgamated Bank trimmed its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,491 shares of the company’s stock after selling 1,035 shares during the quarter. Amalgamated Bank’s holdings in McCormick & Company, Incorporated were worth $3,697,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MKC. State Street Corp boosted its stake in McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after purchasing an additional 1,114,706 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock worth $127,115,000 after buying an additional 568,276 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of McCormick & Company, Incorporated by 2,778.8% in the third quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock worth $37,606,000 after buying an additional 441,048 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of McCormick & Company, Incorporated by 321.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company’s stock valued at $34,298,000 after buying an additional 343,070 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $20,227,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Up 1.3 %

McCormick & Company, Incorporated stock opened at $82.67 on Friday. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $85.49. The stock has a fifty day moving average of $76.57 and a 200 day moving average of $78.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The stock has a market cap of $22.17 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly 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 net margin of 11.73% and a return on equity of 14.89%. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 23.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MKC has been the topic of several analyst reports. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. 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. Barclays reduced their price objective 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 boosted their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.