Mutual Advisors LLC Sells 339 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Mutual Advisors LLC reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,248 shares of the company’s stock after selling 339 shares during the quarter. Mutual Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $239,000 at the end of the most recent reporting period.

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

McCormick & Company, Incorporated Stock Down 0.3 %

MKC opened at $76.73 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $20.59 billion, a PE ratio of 26.10, a P/E/G ratio of 3.23 and a beta of 0.75. The business’s fifty day simple moving average is $76.71 and its 200 day simple moving average is $78.14. McCormick & Company, Incorporated has a 52 week low of $64.33 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. As a group, research analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders 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. The ex-dividend date was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.35%. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Insider Buying and Selling

In other news, Director Jacques Tapiero sold 5,000 shares of the company’s 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 transaction, the director now owns 28,217 shares in the company, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 20,000 shares of company stock valued at $1,565,850 over the last quarter. Corporate insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MKC shares. Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Barclays dropped their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday. 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 report on Monday, December 9th. JPMorgan Chase & Co. upped their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Finally, Stifel Nicolaus upped their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.75.

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.