New Hampshire Trust Cuts Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

New Hampshire Trust cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,347 shares of the company’s stock after selling 249 shares during the period. New Hampshire Trust’s holdings in McCormick & Company, Incorporated were worth $331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated in the 4th quarter valued at $38,000. Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated in the 2nd quarter valued at $39,000. Kennebec Savings Bank acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth $40,000. Finally, Friedenthal Financial purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $49,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Down 0.4 %

NYSE MKC opened at $73.35 on Tuesday. 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 capitalization of $19.69 billion, a P/E ratio of 24.95, a PEG ratio of 3.24 and a beta of 0.75. The firm’s 50-day moving average is $76.82 and its two-hundred day moving average is $77.96. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.45%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.22%.

Analyst Upgrades and Downgrades

MKC has been the subject of several research reports. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a report on Wednesday, January 15th. Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, Bank of America boosted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Moderate Buy” and an average target price of $82.63.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the transaction, the director now owns 28,217 shares of the company’s stock, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders sold 20,000 shares of company stock worth $1,565,850. Insiders own 22.90% of the company’s stock.

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.