McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Stephens Inc. AR

Stephens Inc. AR reduced its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,368 shares of the company’s stock after selling 192 shares during the period. Stephens Inc. AR’s holdings in McCormick & Company, Incorporated were worth $562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MKC. Vontobel Holding Ltd. increased its holdings in shares of McCormick & Company, Incorporated by 2.2% in the third quarter. Vontobel Holding Ltd. now owns 48,213 shares of the company’s stock valued at $3,968,000 after purchasing an additional 1,051 shares during the period. Cornerstone Wealth Management LLC acquired a new position in shares of McCormick & Company, Incorporated in the third quarter valued at about $212,000. Cardinal Capital Management increased its holdings in shares of McCormick & Company, Incorporated by 1.3% in the third quarter. Cardinal Capital Management now owns 91,851 shares of the company’s stock valued at $7,559,000 after purchasing an additional 1,167 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of McCormick & Company, Incorporated by 12.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,161 shares of the company’s stock valued at $2,976,000 after purchasing an additional 3,922 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 7.0% in the third quarter. V Square Quantitative Management LLC now owns 8,407 shares of the company’s stock valued at $692,000 after purchasing an additional 550 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays lowered their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now owns 6,177 shares in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $77.07 on Friday. The company has a market capitalization of $20.67 billion, a P/E ratio of 26.30, a P/E/G ratio of 3.67 and a beta of 0.75. The business’s 50 day moving average is $76.62 and its two-hundred day moving average is $78.39. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 12-month low of $64.86 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.43%.

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.