Assenagon Asset Management S.A. Grows Stake in McCormick & Company, Incorporated (NYSE:MKC)

Assenagon Asset Management S.A. grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 146.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,298 shares of the company’s stock after buying an additional 28,736 shares during the period. Assenagon Asset Management S.A.’s holdings in McCormick & Company, Incorporated were worth $3,682,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Janney Montgomery Scott LLC purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $20,227,000. Hemenway Trust Co LLC grew its stake in McCormick & Company, Incorporated by 71.5% in the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after purchasing an additional 58,511 shares during the period. Oppenheimer & Co. Inc. grew its stake in McCormick & Company, Incorporated by 57.6% in the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after purchasing an additional 14,652 shares during the period. Wellington Management Group LLP raised its holdings in McCormick & Company, Incorporated by 21.7% in the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new position in McCormick & Company, Incorporated during the third quarter valued at $1,104,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $74.29 on Wednesday. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 3.24 and a beta of 0.75. The business’s fifty day simple moving average is $76.75 and its two-hundred day simple moving average is $77.99. McCormick & Company, Incorporated has a 12 month low of $64.07 and a 12 month high of $85.49. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed 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 dividend yield of 2.42%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MKC. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a research note on Wednesday, January 15th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Stifel Nicolaus boosted their price target 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. Bank of America raised their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.