McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by Blue Trust Inc.

Blue Trust Inc. raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 43.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,001 shares of the company’s stock after purchasing an additional 914 shares during the period. Blue Trust Inc.’s holdings in McCormick & Company, Incorporated were worth $247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in McCormick & Company, Incorporated during the 3rd quarter valued at about $28,000. Albion Financial Group UT acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $33,000. Kennebec Savings Bank purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $40,000. Rosenberg Matthew Hamilton acquired a new stake in McCormick & Company, Incorporated in the 4th quarter worth approximately $38,000. Finally, Friedenthal Financial purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 1.0 %

McCormick & Company, Incorporated stock opened at $78.03 on Tuesday. The firm has a market cap of $20.92 billion, a PE ratio of 26.63, a P/E/G ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $64.33 and a 12 month high of $85.49. The stock’s 50 day simple moving average is $76.72 and its two-hundred day simple moving average is $78.25. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

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

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 paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.31%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.43%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MKC. JPMorgan Chase & Co. lifted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Barclays cut their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

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.