Mattern Capital Management LLC Cuts Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Mattern Capital Management LLC cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,375 shares of the company’s stock after selling 195 shares during the period. Mattern Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $7,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in MKC. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $28,000. Albion Financial Group UT purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $38,000. Kennebec Savings Bank purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $50,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated Thursday, February 13th. The shares were 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 approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MKC. Barclays dropped their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. 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 research report on Friday, January 24th. TD Cowen upgraded 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 report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company 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 issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $79.25 on Friday. The firm has a market capitalization of $21.25 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 3.61 and a beta of 0.75. The business’s fifty day moving average price is $76.38 and its 200 day moving average price is $78.39. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 12 month low of $65.72 and a 12 month high of $85.49.

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