Kentucky Trust Co Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Kentucky Trust Co acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 732 shares of the company’s stock, valued at approximately $56,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wallington Asset Management LLC grew its holdings 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 in the last quarter. International Private Wealth Advisors LLC grew its holdings in McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after acquiring an additional 136 shares in the last quarter. Hunter Associates Investment Management LLC grew its holdings in McCormick & Company, Incorporated by 1.2% during the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after acquiring an additional 153 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in McCormick & Company, Incorporated by 4.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock worth $320,000 after acquiring an additional 170 shares in the last quarter. Finally, Aurora Investment Counsel grew its holdings in McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock worth $695,000 after acquiring an additional 172 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Trading Down 0.4 %

Shares of NYSE:MKC opened at $76.90 on Thursday. The company has a market cap of $20.62 billion, a PE ratio of 26.25, a P/E/G ratio of 3.67 and a beta of 0.75. The company’s 50-day moving average price is $76.65 and its 200 day moving average price is $78.41. McCormick & Company, Incorporated has a fifty-two week low of $64.33 and a fifty-two week high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a $0.45 dividend. The ex-dividend date 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 2.34%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.43%.

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.