William Allan Corp Lowers Holdings in McCormick & Company, Incorporated (NYSE:MKC)

William Allan Corp trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 7.6% in the 4th quarter, HoldingsChannel reports. The firm owned 5,440 shares of the company’s stock after selling 445 shares during the quarter. William Allan Corp’s holdings in McCormick & Company, Incorporated were worth $415,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank increased its holdings in McCormick & Company, Incorporated by 7.0% in the 3rd quarter. Czech National Bank now owns 51,338 shares of the company’s stock valued at $4,225,000 after acquiring an additional 3,366 shares during the last quarter. Atomi Financial Group Inc. purchased a new position in shares of McCormick & Company, Incorporated during the third quarter valued at about $227,000. USA Financial Formulas purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter worth about $170,000. Cadinha & Co. LLC boosted its stake in McCormick & Company, Incorporated by 20.0% during the third quarter. Cadinha & Co. LLC now owns 4,800 shares of the company’s stock valued at $395,000 after buying an additional 800 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in McCormick & Company, Incorporated by 0.9% during the 3rd quarter. UMB Bank n.a. now owns 20,134 shares of the company’s stock valued at $1,657,000 after buying an additional 176 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $77.32 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The firm has a market capitalization of $20.73 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49. The company’s 50-day moving average is $76.70 and its 200 day moving average is $78.29.

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

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a dividend of $0.45 per share. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s payout ratio is currently 61.43%.

Analyst Upgrades and Downgrades

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

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the sale, the director now directly owns 28,217 shares of the company’s stock, valued at $2,182,302.78. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.90% of the company’s stock.

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.