24,829 Shares in McCormick & Company, Incorporated (NYSE:MKC) Acquired by Avanza Fonder AB

Avanza Fonder AB bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,829 shares of the company’s stock, valued at approximately $1,893,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC bought a new stake in McCormick & Company, Incorporated during the third quarter valued at about $20,227,000. Hemenway Trust Co LLC boosted its holdings in shares of McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after buying an additional 58,511 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after buying an additional 14,652 shares in the last quarter. Wellington Management Group LLP grew its position in shares of McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after buying an additional 24,881 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $1,104,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MKC. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Bank of America raised 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. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.63.

Insider Activity

In related news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the transaction, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. 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 can be accessed through this hyperlink. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 in the last quarter. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Trading Down 0.4 %

Shares of McCormick & Company, Incorporated stock opened at $73.35 on Friday. The stock has a market cap 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. The firm has a fifty day moving average price of $76.82 and a 200 day moving average price of $77.85. 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.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is 61.22%.

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.