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

Assenagon Asset Management S.A. increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 146.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,298 shares of the company’s stock after buying an additional 28,736 shares during the quarter. Assenagon Asset Management S.A.’s holdings in McCormick & Company, Incorporated were worth $3,682,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $28,000. Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $38,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of McCormick & Company, Incorporated in the second quarter worth $39,000. Kennebec Savings Bank bought a new stake 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. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 20,000 shares of company stock worth $1,565,850 over the last 90 days. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Up 1.3 %

Shares of MKC opened at $74.29 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The stock has a market capitalization of $19.94 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 3.24 and a beta of 0.75. McCormick & Company, Incorporated has a 1 year low of $64.07 and a 1 year high of $85.49. The business’s 50 day simple moving average is $76.75 and its 200-day simple moving average is $77.99.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a dividend of $0.45 per share. 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.42%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.22%.

Analysts Set New Price Targets

MKC has been the subject of a number of analyst reports. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America increased their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.63.

McCormick & Company, Incorporated Company 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.