Cullen Investment Group LTD. Sells 609 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Cullen Investment Group LTD. trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,769 shares of the company’s stock after selling 609 shares during the period. Cullen Investment Group LTD.’s holdings in McCormick & Company, Incorporated were worth $5,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. State Street Corp raised its stake 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 valued at $1,260,499,000 after buying an additional 1,114,706 shares during the last quarter. Geode Capital Management LLC raised its stake in McCormick & Company, Incorporated by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after purchasing an additional 54,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in McCormick & Company, Incorporated by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock valued at $247,158,000 after buying an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. grew its position in McCormick & Company, Incorporated by 58.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after acquiring an additional 568,276 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of McCormick & Company, Incorporated by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after acquiring an additional 30,696 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 0.3 %

NYSE MKC opened at $71.21 on Tuesday. The stock has a 50-day simple moving average of $77.19 and a 200 day simple moving average of $77.89. The company has a market capitalization of $19.11 billion, a PE ratio of 24.22, a P/E/G ratio of 3.44 and a beta of 0.75. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a $0.45 dividend. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Analyst Ratings Changes

Several analysts recently commented on MKC shares. Bank of America upped 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 report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note 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. TD Cowen upgraded 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 report on Wednesday, January 8th. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.50.

McCormick & Company, Incorporated Profile

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.