Hennion & Walsh Asset Management Inc. Purchases 851 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Hennion & Walsh Asset Management Inc. boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 12.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,652 shares of the company’s stock after purchasing an additional 851 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $583,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America upped their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered their price target on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.63.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the transaction, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 20,000 shares of company stock valued at $1,565,850 over the last 90 days. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.4 %

NYSE:MKC opened at $73.35 on Tuesday. McCormick & Company, Incorporated has a 52 week low of $63.88 and a 52 week high of $85.49. The firm has a 50 day moving average of $76.82 and a 200 day moving average of $77.96. 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 $19.69 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 announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a dividend of $0.45 per share. This is a boost 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 2.45%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.22%.

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.