Bath Savings Trust Co Sells 7,093 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Bath Savings Trust Co cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.5% in the fourth quarter, HoldingsChannel reports. The firm owned 151,849 shares of the company’s stock after selling 7,093 shares during the period. McCormick & Company, Incorporated comprises about 1.2% of Bath Savings Trust Co’s investment portfolio, making the stock its 26th largest holding. Bath Savings Trust Co’s holdings in McCormick & Company, Incorporated were worth $11,577,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its holdings in shares of 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 acquiring an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC increased its position in McCormick & Company, Incorporated by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock valued at $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 raised its holdings in shares of McCormick & Company, Incorporated by 6.3% in the 3rd 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 purchasing an additional 177,567 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of 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 worth $127,115,000 after purchasing an additional 568,276 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of McCormick & Company, Incorporated by 2.1% during 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 purchasing an additional 30,696 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $0.06 during midday trading on Tuesday, reaching $74.19. The company had a trading volume of 626,311 shares, compared to its average volume of 1,133,594. McCormick & Company, Incorporated has a 1 year low of $63.88 and a 1 year high of $85.49. The business’s 50-day simple moving average is $77.68 and its 200 day simple moving average is $77.74. 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 stock has a market cap of $19.91 billion, a P/E ratio of 25.23, a P/E/G ratio of 3.44 and a beta of 0.75.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be 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 is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.43%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Insider Buying and Selling

In related news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at $2,182,302.78. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last 90 days. Insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Bank of America increased their target price 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. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen increased their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $81.00.

McCormick & Company, Incorporated Company 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.