Barlow Wealth Partners Inc. Lowers Stake in McCormick & Company, Incorporated (NYSE:MKC)

Barlow Wealth Partners Inc. decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 8.0% during the fourth quarter, Holdings Channel reports. The firm owned 2,950 shares of the company’s stock after selling 255 shares during the quarter. Barlow Wealth Partners Inc.’s holdings in McCormick & Company, Incorporated were worth $212,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at $20,227,000. Hemenway Trust Co LLC boosted its holdings in McCormick & Company, Incorporated by 71.5% during the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after acquiring an additional 58,511 shares during the period. Oppenheimer & Co. Inc. grew its position 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 acquiring an additional 14,652 shares in the last quarter. Wellington Management Group LLP increased its stake in McCormick & Company, Incorporated by 21.7% during the third 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 period. Finally, Qsemble Capital Management LP acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $1,104,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $74.29 on Wednesday. The business has a 50 day moving average price of $76.75 and a 200 day moving average price of $77.99. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 3.24 and a beta of 0.75. McCormick & Company, Incorporated has a fifty-two week low of $64.07 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is currently 61.22%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MKC. Bank of America lifted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” 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 increased their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Moderate Buy” and an average target price of $82.63.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the transaction, the director now owns 40,436 shares in the company, valued at $3,194,444. This trade represents a 11.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 20,000 shares of company stock valued at $1,565,850 in the last ninety days. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated 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.