Nuance Investments LLC Has $27.75 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Nuance Investments LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 39.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,020 shares of the company’s stock after selling 237,314 shares during the quarter. McCormick & Company, Incorporated makes up 1.1% of Nuance Investments LLC’s investment portfolio, making the stock its 27th largest holding. Nuance Investments LLC’s holdings in McCormick & Company, Incorporated were worth $27,753,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $30,000. Albion Financial Group UT purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Twin Tree Management LP purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Lee Danner & Bass Inc. acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $37,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $80.39 on Wednesday. The firm’s 50-day moving average is $78.75 and its 200-day moving average is $78.85. The company has a market cap of $21.56 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 3.76 and a beta of 0.71. 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 52-week low of $66.88 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. McCormick & Company, Incorporated’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on 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 transaction, the director now directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. 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 report on Friday, January 24th. Barclays decreased 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 note on Monday, January 27th. Finally, TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.