Procyon Advisors LLC Has $208,000 Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Procyon Advisors LLC reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.2% in the 4th quarter, Holdings Channel reports. The firm owned 2,729 shares of the company’s stock after selling 181 shares during the period. Procyon Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $208,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at $3,194,444. The trade was a 11.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 in the last 90 days. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $73.35 on Monday. 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 company has a fifty day moving average price of $76.82 and a 200-day moving average price of $77.91. McCormick & Company, Incorporated has a 1 year low of $63.88 and a 1 year high of $85.49. The firm has a market cap of $19.69 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 3.07 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 paid a $0.45 dividend. This is a positive change 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 2.45%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MKC shares. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-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 upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. reduced 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. Finally, Bank of America raised their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and a consensus price target of $82.63.

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.