Sky Investment Group LLC Sells 1,060 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Sky Investment Group LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 18.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,537 shares of the company’s stock after selling 1,060 shares during the period. Sky Investment Group LLC’s holdings in McCormick & Company, Incorporated were worth $346,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Diversify Wealth Management LLC raised its holdings in McCormick & Company, Incorporated by 86.9% in the 4th quarter. Diversify Wealth Management LLC now owns 28,249 shares of the company’s stock worth $2,017,000 after purchasing an additional 13,132 shares in the last quarter. Hall Laurie J Trustee raised its stake in McCormick & Company, Incorporated by 46.9% in the fourth quarter. Hall Laurie J Trustee now owns 45,725 shares of the company’s stock worth $3,486,000 after buying an additional 14,595 shares in the last quarter. HB Wealth Management LLC lifted its holdings in McCormick & Company, Incorporated by 7.3% in the fourth quarter. HB Wealth Management LLC now owns 5,642 shares of the company’s stock worth $430,000 after buying an additional 384 shares during the period. Spring Capital Management LLC lifted its holdings in McCormick & Company, Incorporated by 2.7% in the fourth quarter. Spring Capital Management LLC now owns 59,466 shares of the company’s stock worth $4,534,000 after buying an additional 1,590 shares during the period. Finally, DB Fitzpatrick & Co Inc boosted its position in McCormick & Company, Incorporated by 14.8% during the 4th quarter. DB Fitzpatrick & Co Inc now owns 14,549 shares of the company’s stock valued at $1,109,000 after acquiring an additional 1,874 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $73.35 on Tuesday. The stock’s 50 day simple moving average is $76.82 and its 200 day simple moving average is $77.96. 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 has a 12-month low of $63.88 and a 12-month high of $85.49. The stock has a market capitalization 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a $0.45 dividend. This represents a $1.80 annualized dividend 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 of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.22%.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the sale, the director now directly owns 28,217 shares in the company, valued at $2,182,302.78. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their target price on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a report on Wednesday, January 15th. Stifel Nicolaus increased 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 note on Wednesday, October 2nd. Bank of America boosted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded shares of 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 report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.63.

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.