McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC raised its position in McCormick & Company, Incorporated (NYSE:MKC) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,642 shares of the company’s stock after acquiring an additional 384 shares during the quarter. HB Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $430,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. American Century Companies Inc. grew its stake in shares of McCormick & Company, Incorporated by 98.0% during the second quarter. American Century Companies Inc. now owns 46,543 shares of the company’s stock worth $3,302,000 after purchasing an additional 23,033 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of McCormick & Company, Incorporated by 6.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 21,338 shares of the company’s stock valued at $1,514,000 after acquiring an additional 1,350 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of McCormick & Company, Incorporated by 45.5% during the 2nd quarter. Pacer Advisors Inc. now owns 24,723 shares of the company’s stock worth $1,754,000 after acquiring an additional 7,730 shares in the last quarter. Sei Investments Co. boosted its holdings in McCormick & Company, Incorporated by 2.6% in the second quarter. Sei Investments Co. now owns 159,586 shares of the company’s stock valued at $11,321,000 after purchasing an additional 3,992 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in McCormick & Company, Incorporated by 11.2% in the second quarter. Thrivent Financial for Lutherans now owns 13,353 shares of the company’s stock valued at $947,000 after purchasing an additional 1,349 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Ratings Changes

MKC has been the subject of several recent analyst reports. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company 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 stock a “buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. dropped their price target on 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average price target of $82.63.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $73.19 on Thursday. The stock’s 50-day moving average price is $76.70 and its 200 day moving average price is $78.01. 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 capitalization of $19.64 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 3.24 and a beta of 0.75. McCormick & Company, Incorporated has a 52-week low of $64.33 and a 52-week high of $85.49.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is presently 61.22%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. The trade was a 11.00 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 currently owned by insiders.

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.