Strengthening Families & Communities LLC Trims Stake in McCormick & Company, Incorporated (NYSE:MKC)

Strengthening Families & Communities LLC lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 96.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,003 shares of the company’s stock after selling 30,280 shares during the period. Strengthening Families & Communities LLC’s holdings in McCormick & Company, Incorporated were worth $76,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MKC. Capital Performance Advisors LLP acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Kennebec Savings Bank acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $40,000. Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated in the 4th quarter valued at $38,000. Finally, Friedenthal Financial acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MKC. Barclays cut their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. TD Cowen upgraded 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 report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded 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 report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Stock Down 2.2 %

Shares of NYSE MKC opened at $76.65 on Tuesday. McCormick & Company, Incorporated has a 12-month low of $64.33 and a 12-month high of $85.49. The company has a market cap of $20.55 billion, a P/E ratio of 26.16, a P/E/G ratio of 3.67 and a beta of 0.75. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $76.70 and a 200 day moving average price of $78.38.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

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 issued 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 yield of 2.35%. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.43%.

McCormick & Company, Incorporated 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.