Rosenberg Matthew Hamilton Makes New $38,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

Rosenberg Matthew Hamilton acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 493 shares of the company’s stock, valued at approximately $38,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MKC. State Street Corp raised its position in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after purchasing an additional 1,114,706 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after buying an additional 975,255 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of McCormick & Company, Incorporated in the 2nd quarter worth approximately $51,286,000. Benjamin Edwards Inc. lifted its position in shares of McCormick & Company, Incorporated by 2,778.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock worth $37,606,000 after buying an additional 441,048 shares during the period. Finally, Millennium Management LLC boosted its stake in McCormick & Company, Incorporated by 111.2% in the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after buying an additional 386,320 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on MKC. JPMorgan Chase & Co. dropped their price objective on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a research note on Wednesday. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Stifel Nicolaus lifted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.63.

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 on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the director now owns 28,217 shares of the company’s stock, valued at $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 20,000 shares of company stock worth $1,565,850. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $71.73 on Thursday. McCormick & Company, Incorporated has a 1 year low of $63.88 and a 1 year 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. The firm’s 50 day moving average is $77.05 and its 200-day moving average is $77.90. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 3.44 and a beta of 0.75.

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 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 annualized dividend and a yield of 2.51%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.