DB Fitzpatrick & Co Inc Boosts Stake in McCormick & Company, Incorporated (NYSE:MKC)

DB Fitzpatrick & Co Inc increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 14.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,549 shares of the company’s stock after acquiring an additional 1,874 shares during the quarter. DB Fitzpatrick & Co Inc’s holdings in McCormick & Company, Incorporated were worth $1,109,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. American Century Companies Inc. grew its position in shares of McCormick & Company, Incorporated by 98.0% in the second quarter. American Century Companies Inc. now owns 46,543 shares of the company’s stock valued at $3,302,000 after purchasing an additional 23,033 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $238,000. Mercer Global Advisors Inc. ADV increased its stake in shares of McCormick & Company, Incorporated by 6.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 21,338 shares of the company’s stock worth $1,514,000 after acquiring an additional 1,350 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 13.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,863 shares of the company’s stock worth $1,480,000 after acquiring an additional 2,469 shares during the period. Finally, Waterloo Capital L.P. boosted its position in shares of McCormick & Company, Incorporated by 78.7% during the 2nd quarter. Waterloo Capital L.P. now owns 5,553 shares of the company’s stock valued at $394,000 after acquiring an additional 2,445 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.4 %

Shares of NYSE:MKC opened at $73.35 on Friday. The firm has a market capitalization of $19.69 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 3.07 and a beta of 0.75. McCormick & Company, Incorporated has a 1 year low of $63.88 and a 1 year high of $85.49. 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 firm’s 50-day moving average is $76.90 and its two-hundred day moving average is $77.83.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors 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. This represents a $1.80 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.22%.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 in the last ninety days. 22.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MKC shares. TD Cowen raised shares of 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. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Bank of America increased their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $82.63.

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.