VisionPoint Advisory Group LLC Acquires New Holdings in McCormick & Company, Incorporated (NYSE:MKC)

VisionPoint Advisory Group LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, Holdings Channel reports. The fund bought 786 shares of the company’s stock, valued at approximately $60,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of McCormick & Company, Incorporated by 7.8% in the third 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of McCormick & Company, Incorporated by 0.9% in the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock valued at $482,823,000 after buying an additional 54,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of McCormick & Company, Incorporated by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after acquiring an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of 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 acquiring an additional 568,276 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in McCormick & Company, Incorporated by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after acquiring an additional 30,696 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Trading Up 1.2 %

NYSE:MKC opened at $80.15 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The firm has a 50-day moving average of $76.34 and a 200-day moving average of $78.40. The company has a market cap of $21.49 billion, a PE ratio of 27.36, a PEG ratio of 3.74 and a beta of 0.75. McCormick & Company, Incorporated has a one year low of $65.72 and a one year high of $85.49.

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

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction 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 sale, the director now directly 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 23.80% of the company’s stock.

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.