Ashton Thomas Private Wealth LLC Increases Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Ashton Thomas Private Wealth LLC grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,153 shares of the company’s stock after buying an additional 1,120 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in McCormick & Company, Incorporated were worth $855,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MKC. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at about $28,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $33,000. Rosenberg Matthew Hamilton bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $38,000. Kennebec Savings Bank purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth about $40,000. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in McCormick & Company, Incorporated in the third quarter worth about $50,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the 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 transaction, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

MKC has been the topic of a number of analyst reports. Barclays cut their target price on 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 objective 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 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. Finally, Jefferies Financial Group raised 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 research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $82.66 on Monday. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $85.78. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average is $77.07 and its two-hundred day moving average is $78.77. The company has a market capitalization of $22.17 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. As a group, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

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.