CFS Investment Advisory Services LLC Boosts Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

CFS Investment Advisory Services LLC lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,201 shares of the company’s stock after buying an additional 662 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in McCormick & Company, Incorporated were worth $1,235,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at about $20,227,000. Hemenway Trust Co LLC raised its stake in 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 purchasing an additional 58,511 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in 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 purchasing an additional 14,652 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new position in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $1,104,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.2 %

NYSE MKC opened at $74.90 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. McCormick & Company, Incorporated has a one year low of $64.33 and a one year high of $85.49. The company’s 50 day moving average price is $76.66 and its 200 day moving average price is $77.99. The firm has a market capitalization of $20.10 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 3.23 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a $0.45 dividend. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.22%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MKC. 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. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Bank of America upped their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Moderate Buy” and an average target price of $83.00.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of the transaction, the director now directly owns 40,436 shares in the company, valued at approximately $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by company insiders.

About McCormick & Company, Incorporated

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.