Hennion & Walsh Asset Management Inc. Acquires 851 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Hennion & Walsh Asset Management Inc. grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,652 shares of the company’s stock after acquiring an additional 851 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of MKC. Capital Performance Advisors LLP purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $28,000. Rosenberg Matthew Hamilton purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $38,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $39,000. Kennebec Savings Bank purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $40,000. Finally, Friedenthal Financial purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $49,000. Institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

MKC has been the topic of a number of analyst reports. Stifel Nicolaus lifted their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company 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. Bank of America boosted 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 note on Wednesday, October 2nd. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and a consensus target price of $82.63.

Insider Activity

In related news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the transaction, the director now directly owns 40,436 shares in the company, valued at approximately $3,174,226. This represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 0.4 %

Shares of NYSE MKC opened at $73.35 on Tuesday. The firm’s 50-day moving average price is $76.82 and its 200-day moving average price is $77.96. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $19.69 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 3.07 and a beta of 0.75. McCormick & Company, Incorporated has a 12-month low of $63.88 and a 12-month high of $85.49.

McCormick & Company, Incorporated Increases Dividend

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

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.