Bryn Mawr Capital Management LLC Has $750,000 Position in McCormick & Company, Incorporated (NYSE:MKC)

Bryn Mawr Capital Management LLC raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 35.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,837 shares of the company’s stock after purchasing an additional 2,554 shares during the period. Bryn Mawr Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $750,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. 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 valued at $1,260,499,000 after acquiring an additional 1,114,706 shares in the last quarter. Point72 Asset Management L.P. grew 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 valued at $127,115,000 after acquiring an additional 568,276 shares in the last quarter. Benjamin Edwards Inc. grew 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 valued at $37,606,000 after acquiring an additional 441,048 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of McCormick & Company, Incorporated by 321.2% in 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 acquiring an additional 343,070 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of McCormick & Company, Incorporated in the third quarter valued at about $20,227,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction dated 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 of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MKC has been the topic of several research reports. Barclays decreased their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock 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 given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $80.11 on Thursday. The company has a market capitalization of $21.48 billion, a PE ratio of 27.34, a P/E/G ratio of 3.76 and a beta of 0.75. The company has a 50 day simple moving average of $76.42 and a two-hundred day simple moving average of $78.51. 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 has a fifty-two week low of $66.88 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping 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%. Research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated 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.