Clean Yield Group Buys 7,217 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Clean Yield Group boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,532 shares of the company’s stock after buying an additional 7,217 shares during the period. McCormick & Company, Incorporated makes up approximately 1.8% of Clean Yield Group’s portfolio, making the stock its 11th biggest position. Clean Yield Group’s holdings in McCormick & Company, Incorporated were worth $5,759,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MKC. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated during the third quarter worth $28,000. Kennebec Savings Bank bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at about $39,000. Friedenthal Financial bought a new position in shares of McCormick & Company, Incorporated during the third quarter valued at about $49,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in McCormick & Company, Incorporated during the third quarter worth about $50,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

MKC traded down $0.21 during trading on Monday, reaching $71.18. 1,918,265 shares of the company were exchanged, compared to its average volume of 1,613,430. McCormick & Company, Incorporated has a 12-month low of $63.88 and a 12-month high of $85.49. The company’s 50-day moving average is $77.33 and its two-hundred day moving average is $77.89. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $19.10 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 3.44 and a beta of 0.75.

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 issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.53%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.22%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MKC. Bank of America boosted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

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 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Company 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.