ConAgra Foods, Inc. (CAG), Campbell Soup Company (CPB): This Metric Says You Are Smart to Buy McCormick & Company, Incorporated (MKC)

Page 1 of 2

McCormick & Company, Incorporated (NYSE:MKC) investors should pay attention to an increase in hedge fund interest of late.

McCormick & Company, Incorporated (NYSE:MKC)In the financial world, there are a multitude of metrics shareholders can use to watch the equity markets. A couple of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the best money managers can beat their index-focused peers by a solid margin (see just how much).

Just as beneficial, positive insider trading sentiment is another way to break down the investments you’re interested in. As the old adage goes: there are lots of reasons for an upper level exec to drop shares of his or her company, but only one, very obvious reason why they would buy. Various academic studies have demonstrated the impressive potential of this tactic if “monkeys” know where to look (learn more here).

With all of this in mind, we’re going to take a peek at the key action surrounding McCormick & Company, Incorporated (NYSE:MKC).

How are hedge funds trading McCormick & Company, Incorporated (NYSE:MKC)?

At year’s end, a total of 13 of the hedge funds we track held long positions in this stock, a change of 8% from one quarter earlier. With the smart money’s sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings considerably.

Of the funds we track, David Harding’s Winton Capital Management had the biggest position in McCormick & Company, Incorporated (NYSE:MKC), worth close to $29.9 million, accounting for 0.8% of its total 13F portfolio. The second largest stake is held by John W. Rogers of Ariel Investments, with a $17.6 million position; 0.4% of its 13F portfolio is allocated to the stock. Other hedge funds that are bullish include Cliff Asness’s AQR Capital Management, Jim Simons’s Renaissance Technologies and Ken Griffin’s Citadel Investment Group.

Now, some big names were leading the bulls’ herd. Renaissance Technologies, managed by Jim Simons, assembled the most outsized position in McCormick & Company, Incorporated (NYSE:MKC). Renaissance Technologies had 8.6 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $7.7 million investment in the stock during the quarter. The other funds with brand new MKC positions are Israel Englander’s Millennium Management and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.

Insider trading activity in McCormick & Company, Incorporated (NYSE:MKC)

Insider buying is best served when the company we’re looking at has seen transactions within the past 180 days. Over the last six-month time period, McCormick & Company, Incorporated (NYSE:MKC) has seen zero unique insiders purchasing, and 4 insider sales (see the details of insider trades here).

Let’s go over hedge fund and insider activity in other stocks similar to McCormick & Company, Incorporated (NYSE:MKC). These stocks are ConAgra Foods, Inc. (NYSE:CAG), Campbell Soup Company (NYSE:CPB), Ingredion Inc (NYSE:INGR), The J.M. Smucker Company (NYSE:SJM), and Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR). This group of stocks are in the processed & packaged goods industry and their market caps are closest to MKC’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

The 10 Biggest Tax Havens in the World to Stash Your Money

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!