KMG Fiduciary Partners LLC Sells 200 Shares of McCormick & Company, Incorporated (NYSE:MKC)

KMG Fiduciary Partners LLC lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,830 shares of the company’s stock after selling 200 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in McCormick & Company, Incorporated were worth $368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MKC. State Street Corp increased its holdings in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in McCormick & Company, Incorporated by 97,525.5% in the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after purchasing an additional 975,255 shares during the last quarter. Marshall Wace LLP acquired a new position in McCormick & Company, Incorporated in the second quarter valued at about $51,286,000. Benjamin Edwards Inc. grew its stake in McCormick & Company, Incorporated by 2,778.8% in the third quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock valued at $37,606,000 after acquiring an additional 441,048 shares during the period. Finally, Millennium Management LLC grew its stake in McCormick & Company, Incorporated by 111.2% in the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after acquiring an additional 386,320 shares during the period. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $1,565,850. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.4 %

MKC stock opened at $73.35 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The stock has a market capitalization of $19.69 billion, a P/E ratio of 24.95, a P/E/G ratio of 3.07 and a beta of 0.75. The business has a 50-day moving average of $76.90 and a 200-day moving average of $77.83. McCormick & Company, Incorporated has a fifty-two week low of $63.88 and a fifty-two 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. Investors of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.45%. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Analyst Ratings Changes

MKC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a research note on Wednesday. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America boosted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.63.

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.