By otakuyassine3@gmail.com 
USA Financial Formulas decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,906 shares of the company’s stock after selling 154 shares during the quarter. USA Financial Formulas’ holdings in McCormick & Company, Incorporated were worth $145,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at about $20,227,000. Hemenway Trust Co LLC boosted its stake in McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after purchasing an additional 58,511 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of McCormick & Company, Incorporated by 57.6% during the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after buying an additional 14,652 shares during the period. Wellington Management Group LLP grew its stake in shares of McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after acquiring an additional 24,881 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new stake in McCormick & Company, Incorporated during the third quarter worth about $1,104,000. Institutional investors and hedge funds own 79.74% of the company’s stock.
McCormick & Company, Incorporated Price Performance
McCormick & Company, Incorporated stock opened at $73.65 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The stock has a market capitalization of $19.76 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.07 and a beta of 0.75. The stock’s 50 day moving average price is $76.96 and its two-hundred day moving average price is $77.86. McCormick & Company, Incorporated has a 52-week low of $63.88 and a 52-week high of $85.49.
McCormick & Company, Incorporated Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.44%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is 61.22%.
Analyst Ratings Changes
Several brokerages recently commented on MKC. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America lifted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price objective on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.63.
Check Out Our Latest Report on MKC
Insider Activity at McCormick & Company, Incorporated
In related news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 over the last 90 days. Insiders own 22.90% of the company’s stock.
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.
See Also
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