437 Shares in McCormick & Company, Incorporated (NYSE:MKC) Purchased by Albion Financial Group UT

Albion Financial Group UT purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 437 shares of the company’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp grew its holdings in 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 purchasing an additional 1,114,706 shares during the period. Point72 Asset Management L.P. grew its stake in shares of McCormick & Company, Incorporated by 97,525.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after buying an additional 975,255 shares during the period. Marshall Wace LLP acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $51,286,000. Benjamin Edwards Inc. increased its holdings in shares of McCormick & Company, Incorporated by 2,778.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock worth $37,606,000 after buying an additional 441,048 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in McCormick & Company, Incorporated by 111.2% in the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after acquiring an additional 386,320 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 20,000 shares of company stock worth $1,565,850 in the last three months. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $73.19 on Thursday. The firm has a 50-day moving average of $76.70 and a two-hundred day moving average of $78.01. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The stock has a market cap of $19.64 billion, a P/E ratio of 24.89, a PEG ratio of 3.28 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.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed 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 represents a $1.80 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Analysts Set New Price Targets

Several brokerages have commented on MKC. JPMorgan Chase & Co. dropped their price target 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. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Moderate Buy” and an average target price of $82.63.

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.