Benin Management CORP Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Benin Management CORP acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, Holdings Channel reports. The fund acquired 3,500 shares of the company’s stock, valued at approximately $267,000.

Other hedge funds have also modified their holdings of the company. Wallington Asset Management LLC boosted its position in McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after acquiring an additional 136 shares during the last quarter. Aurora Investment Counsel boosted its holdings in McCormick & Company, Incorporated by 2.1% during the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock worth $695,000 after purchasing an additional 172 shares during the last quarter. UMB Bank n.a. grew its position in McCormick & Company, Incorporated by 0.9% in the third quarter. UMB Bank n.a. now owns 20,134 shares of the company’s stock valued at $1,657,000 after purchasing an additional 176 shares in the last quarter. Ritholtz Wealth Management increased its stake in McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock valued at $1,603,000 after buying an additional 177 shares during the last quarter. Finally, Apeiron RIA LLC lifted its position in McCormick & Company, Incorporated by 3.8% during the 4th quarter. Apeiron RIA LLC now owns 4,803 shares of the company’s stock worth $366,000 after buying an additional 178 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Up 0.2 %

MKC opened at $74.90 on Friday. The stock’s fifty day simple moving average is $76.64 and its 200 day simple moving average is $77.96. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49. The stock has a market cap of $20.10 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 3.23 and a beta of 0.75. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. As a group, research analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, December 30th. 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 2.40%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction 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 transaction, the director now owns 28,217 shares in the company, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 over the last quarter. Company insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MKC shares. JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Bank of America upped their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

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.