Sachetta LLC Sells 199 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Sachetta LLC lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,595 shares of the company’s stock after selling 199 shares during the quarter. Sachetta LLC’s holdings in McCormick & Company, Incorporated were worth $199,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MKC. State Street Corp grew its holdings in shares of McCormick & Company, Incorporated by 7.8% in the 3rd 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 grew its stake in McCormick & Company, Incorporated by 0.9% in the third 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of McCormick & Company, Incorporated by 6.3% during 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 worth $247,158,000 after purchasing an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of McCormick & Company, Incorporated by 58.2% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after buying an additional 30,696 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the transaction, the director now owns 40,436 shares in the company, valued at approximately $3,174,226. The trade was a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 20,000 shares of company stock worth $1,565,850 over the last quarter. Corporate insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. 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. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.00.

McCormick & Company, Incorporated Trading Up 0.2 %

Shares of MKC stock opened at $74.90 on Friday. The stock has a market cap of $20.10 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 3.23 and a beta of 0.75. 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 50 day simple moving average of $76.64 and a 200 day simple moving average of $77.96. McCormick & Company, Incorporated has a 1 year low of $64.33 and a 1 year 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 for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. On average, 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 firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 2.40%. McCormick & Company, Incorporated’s payout ratio is presently 61.22%.

McCormick & Company, Incorporated 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.