Jacobs & Co. CA Buys 3,020 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Jacobs & Co. CA grew its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,685 shares of the company’s stock after purchasing an additional 3,020 shares during the period. Jacobs & Co. CA’s holdings in McCormick & Company, Incorporated were worth $11,411,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wallington Asset Management LLC increased its stake in McCormick & Company, Incorporated by 3.4% in the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after purchasing an additional 136 shares during the period. Aurora Investment Counsel increased its stake in McCormick & Company, Incorporated by 2.1% in 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 period. UMB Bank n.a. increased its stake 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 worth $1,657,000 after purchasing an additional 176 shares during the period. Ritholtz Wealth Management increased its stake in McCormick & Company, Incorporated by 0.9% in the third quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock worth $1,603,000 after purchasing an additional 177 shares during the period. Finally, Empirical Finance LLC increased its stake in McCormick & Company, Incorporated by 2.3% in the third quarter. Empirical Finance LLC now owns 8,592 shares of the company’s stock worth $707,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded down $2.86 during trading hours on Friday, reaching $71.66. The company had a trading volume of 783,489 shares, compared to its average volume of 1,362,846. McCormick & Company, Incorporated has a 1-year low of $63.88 and a 1-year high of $85.49. The firm has a market cap of $19.23 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75. The business’s 50 day moving average price is $77.48 and its 200-day moving average price is $77.74. 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 declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.51%. McCormick & Company, Incorporated’s payout ratio is presently 61.22%.

Insider Buying and Selling at McCormick & Company, Incorporated

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

Analyst Upgrades and Downgrades

MKC has been the topic of several research reports. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $90.00 in a research note on Wednesday. Bank of America lifted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their target price 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. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.