Diversify Wealth Management LLC Acquires 13,132 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Diversify Wealth Management LLC lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 86.9% during the 4th quarter, Holdings Channel reports. The firm owned 28,249 shares of the company’s stock after purchasing an additional 13,132 shares during the period. Diversify Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,017,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hall Laurie J Trustee raised its stake in McCormick & Company, Incorporated by 46.9% in the fourth quarter. Hall Laurie J Trustee now owns 45,725 shares of the company’s stock valued at $3,486,000 after purchasing an additional 14,595 shares in the last quarter. HB Wealth Management LLC raised its position in shares of McCormick & Company, Incorporated by 7.3% in the 4th quarter. HB Wealth Management LLC now owns 5,642 shares of the company’s stock valued at $430,000 after buying an additional 384 shares in the last quarter. Spring Capital Management LLC raised its position in shares of McCormick & Company, Incorporated by 2.7% in the 4th quarter. Spring Capital Management LLC now owns 59,466 shares of the company’s stock valued at $4,534,000 after buying an additional 1,590 shares in the last quarter. DB Fitzpatrick & Co Inc lifted its holdings in shares of McCormick & Company, Incorporated by 14.8% during the 4th quarter. DB Fitzpatrick & Co Inc now owns 14,549 shares of the company’s stock worth $1,109,000 after acquiring an additional 1,874 shares during the period. Finally, Merit Financial Group LLC boosted its position in shares of McCormick & Company, Incorporated by 19.1% during the 4th quarter. Merit Financial Group LLC now owns 9,772 shares of the company’s stock worth $745,000 after acquiring an additional 1,569 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

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

McCormick & Company, Incorporated Stock Down 0.4 %

NYSE:MKC opened at $73.35 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a one year low of $63.88 and a one year high of $85.49. The firm’s 50 day simple moving average is $76.82 and its 200 day simple moving average is $77.96. The company has a market cap of $19.69 billion, a PE ratio of 24.95, a P/E/G ratio of 3.07 and a beta of 0.75.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is 61.22%.

Analyst Ratings Changes

Several equities research analysts have weighed in on MKC shares. Bank of America upped 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 raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock 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.