Spring Capital Management LLC Raises Position in McCormick & Company, Incorporated (NYSE:MKC)

Spring Capital Management LLC lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,466 shares of the company’s stock after purchasing an additional 1,590 shares during the quarter. McCormick & Company, Incorporated comprises about 2.7% of Spring Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Spring Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $4,534,000 as of its most recent SEC filing.

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

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $73.35 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a fifty-two week low of $63.88 and a fifty-two week high of $85.49. The business has a 50 day moving average price of $76.90 and a two-hundred day moving average price of $77.83. The firm has a market cap of $19.69 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 3.07 and a beta of 0.75.

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 paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.45%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MKC shares. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. reduced their price target on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a research report on Wednesday. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.63.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred 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 of the company’s stock, 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 SEC, which is available at the SEC website. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 in the last ninety days. Corporate 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.