Tower View Wealth Management LLC Has $622,000 Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Tower View Wealth Management LLC lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,164 shares of the company’s stock after selling 1,100 shares during the period. Tower View Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $622,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MKC. State of Alaska Department of Revenue boosted its position in McCormick & Company, Incorporated by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 29,252 shares of the company’s stock valued at $2,407,000 after buying an additional 1,985 shares in the last quarter. Integrated Advisors Network LLC boosted its position in McCormick & Company, Incorporated by 22.1% in the third quarter. Integrated Advisors Network LLC now owns 3,796 shares of the company’s stock valued at $312,000 after buying an additional 686 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in McCormick & Company, Incorporated by 3.8% in the third quarter. First Trust Direct Indexing L.P. now owns 9,365 shares of the company’s stock valued at $771,000 after buying an additional 340 shares in the last quarter. HM Payson & Co. boosted its position in McCormick & Company, Incorporated by 6.9% in the third quarter. HM Payson & Co. now owns 3,873 shares of the company’s stock valued at $319,000 after buying an additional 251 shares in the last quarter. Finally, Cigna Investments Inc. New bought a new position in shares of McCormick & Company, Incorporated during the third quarter valued at $210,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 13th. The shares were 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 directly 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 this hyperlink. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $82.67 on Friday. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $85.49. The firm has a fifty day simple moving average of $76.57 and a 200 day simple moving average of $78.59. The company has a market capitalization of $22.17 billion, a PE ratio of 28.22, a P/E/G ratio of 3.76 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping 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 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MKC. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays dropped their price target 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. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. raised 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. One equities research 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.75.

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.