McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by RFG Advisory LLC

RFG Advisory LLC trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,365 shares of the company’s stock after selling 718 shares during the period. RFG Advisory LLC’s holdings in McCormick & Company, Incorporated were worth $1,858,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Apeiron RIA LLC increased its stake in McCormick & Company, Incorporated by 3.8% during the fourth quarter. Apeiron RIA LLC now owns 4,803 shares of the company’s stock worth $366,000 after acquiring an additional 178 shares during the last quarter. Wendell David Associates Inc. grew its holdings in shares of McCormick & Company, Incorporated by 1.3% during the 4th quarter. Wendell David Associates Inc. now owns 165,660 shares of the company’s stock worth $12,630,000 after purchasing an additional 2,115 shares during the period. Bartlett & CO. Wealth Management LLC increased its position in McCormick & Company, Incorporated by 3.0% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 579,561 shares of the company’s stock worth $44,447,000 after purchasing an additional 16,653 shares in the last quarter. Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Finally, Ballentine Partners LLC lifted its position in McCormick & Company, Incorporated by 3.4% during the fourth quarter. Ballentine Partners LLC now owns 6,136 shares of the company’s stock valued at $468,000 after buying an additional 201 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MKC shares. Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America increased their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. boosted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued 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.com, McCormick & Company, Incorporated currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Insider Activity

In related news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at $2,210,237.61. This represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Up 0.2 %

NYSE MKC opened at $74.90 on Friday. The company has a market capitalization of $20.10 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 3.23 and a beta of 0.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 12 month low of $64.33 and a 12 month high of $85.49. The company’s fifty day moving average price is $76.66 and its two-hundred day moving average price is $77.99.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. As a group, research analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated’s payout ratio is 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.