AMI Asset Management Corp Has $28.67 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

AMI Asset Management Corp cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 375,994 shares of the company’s stock after selling 8,828 shares during the period. AMI Asset Management Corp’s holdings in McCormick & Company, Incorporated were worth $28,666,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wallington Asset Management LLC boosted its holdings in McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after acquiring an additional 136 shares during the last quarter. Aurora Investment Counsel boosted its holdings in McCormick & Company, Incorporated by 2.1% during the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock worth $695,000 after purchasing an additional 172 shares during the last quarter. UMB Bank n.a. boosted its holdings in McCormick & Company, Incorporated by 0.9% during the third quarter. UMB Bank n.a. now owns 20,134 shares of the company’s stock worth $1,657,000 after purchasing an additional 176 shares during the last quarter. Ritholtz Wealth Management grew its position in McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock worth $1,603,000 after purchasing an additional 177 shares in the last quarter. Finally, Empirical Finance LLC increased its stake in McCormick & Company, Incorporated by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 8,592 shares of the company’s stock valued at $707,000 after buying an additional 190 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling

In other news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the sale, the director now directly owns 28,217 shares of the company’s stock, valued at $2,210,237.61. The trade was a 15.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 over the last ninety days. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC opened at $73.35 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The stock has a market capitalization of $19.69 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 3.24 and a beta of 0.75. The stock’s 50 day moving average price is $76.75 and its 200-day moving average price is $77.99. McCormick & Company, Incorporated has a 52-week low of $63.88 and a 52-week high of $85.49.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared 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. The ex-dividend date was Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.45%. McCormick & Company, Incorporated’s payout ratio is currently 61.22%.

Analyst Ratings Changes

MKC has been the subject of several recent analyst reports. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a research note on Wednesday, January 15th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America lifted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.63.

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.