Trust Co. of Vermont Decreases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Trust Co. of Vermont lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,883 shares of the company’s stock after selling 3,919 shares during the period. Trust Co. of Vermont’s holdings in McCormick & Company, Incorporated were worth $4,794,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of McCormick & Company, Incorporated during the third quarter worth approximately $28,000. Kennebec Savings Bank acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $40,000. Rosenberg Matthew Hamilton acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $38,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $39,000. Finally, Friedenthal Financial acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded down $0.27 during mid-day trading on Friday, reaching $73.35. 1,845,003 shares of the company’s stock traded hands, compared to its average volume of 1,374,659. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 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 has a market capitalization of $19.69 billion, a P/E ratio of 24.95, a price-to-earnings-growth ratio of 3.07 and a beta of 0.75. The business’s 50-day moving average price is $76.90 and its 200-day moving average price is $77.83.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a $0.45 dividend. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the transaction, the director now owns 40,436 shares in the company, valued at $3,194,444. This represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 in the last 90 days. 22.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MKC shares. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the company 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 assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.63.

About McCormick & Company, Incorporated

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.