Jacobs & Co. CA Acquires 16,098 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Jacobs & Co. CA boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 12.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,949 shares of the company’s stock after acquiring an additional 16,098 shares during the quarter. Jacobs & Co. CA owned 0.05% of McCormick & Company, Incorporated worth $9,780,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Union Savings Bank bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $27,000. Legacy Financial Group LLC purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at about $29,000. Anchor Investment Management LLC purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at about $36,000. Point72 Hong Kong Ltd purchased a new stake in McCormick & Company, Incorporated during the 1st quarter valued at about $44,000. Finally, ICA Group Wealth Management LLC purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at about $46,000. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MKC shares. JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Barclays dropped their price objective on McCormick & Company, Incorporated from $74.00 to $71.00 and set an “equal weight” rating for the company in a report on Tuesday, January 16th. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Citigroup increased their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.63.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the sale, the director now owns 39,181 shares of the company’s stock, valued at approximately $2,554,601.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Down 1.7 %

MKC stock opened at $76.02 on Thursday. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The company has a quick ratio of 0.28, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The firm has a market cap of $20.39 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 4.20 and a beta of 0.73. The business has a 50 day moving average of $67.73 and a 200 day moving average of $67.74.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts forecast that McCormick & Company, Incorporated will post 2.82 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.21%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.