McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by SL Advisors LLC

SL Advisors LLC trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,566 shares of the company’s stock after selling 146 shares during the quarter. SL Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MKC. Nordea Investment Management AB boosted its stake in McCormick & Company, Incorporated by 10.0% during the 4th quarter. Nordea Investment Management AB now owns 21,507 shares of the company’s stock valued at $1,641,000 after purchasing an additional 1,955 shares during the period. Everence Capital Management Inc. grew its position in McCormick & Company, Incorporated by 73.9% in the 4th quarter. Everence Capital Management Inc. now owns 10,590 shares of the company’s stock valued at $807,000 after buying an additional 4,500 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of McCormick & Company, Incorporated by 8.9% in the 3rd quarter. Principal Financial Group Inc. now owns 308,903 shares of the company’s stock worth $25,423,000 after acquiring an additional 25,278 shares during the period. Peapack Gladstone Financial Corp increased its stake in shares of McCormick & Company, Incorporated by 0.8% during the third quarter. Peapack Gladstone Financial Corp now owns 76,831 shares of the company’s stock valued at $6,324,000 after acquiring an additional 632 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of McCormick & Company, Incorporated by 10.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 93,400 shares of the company’s stock worth $7,687,000 after buying an additional 8,671 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Up 0.3 %

Shares of NYSE MKC traded up $0.20 during mid-day trading on Wednesday, reaching $74.52. The company had a trading volume of 425,007 shares, compared to its average volume of 1,268,667. The stock has a market capitalization of $20.00 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $63.88 and a twelve month high of $85.49. 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’s 50 day moving average is $77.62 and its 200-day moving average is $77.78.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.42%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Insider Activity

In other news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the director now owns 28,217 shares in the company, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 in the last three months. 22.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MKC shares. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $86.00 to $90.00 in a report on Wednesday. Stifel Nicolaus upped their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” 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 upped their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.