UMB Bank n.a. Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

UMB Bank n.a. lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 11.8% during the fourth quarter, Holdings Channel reports. The firm owned 17,762 shares of the company’s stock after selling 2,372 shares during the quarter. UMB Bank n.a.’s holdings in McCormick & Company, Incorporated were worth $1,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MKC. Wallington Asset Management LLC increased its position in shares of McCormick & Company, Incorporated by 3.4% during the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after buying an additional 136 shares during the period. Aurora Investment Counsel grew its holdings in shares of 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 during the period. Ritholtz Wealth Management raised its position in shares of McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock worth $1,603,000 after acquiring an additional 177 shares in the last quarter. Empirical Finance LLC lifted its stake in shares of McCormick & Company, Incorporated by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 8,592 shares of the company’s stock valued at $707,000 after purchasing an additional 190 shares during the period. Finally, PFG Investments LLC boosted its position in shares of McCormick & Company, Incorporated by 1.3% during the third quarter. PFG Investments LLC now owns 15,295 shares of the company’s stock valued at $1,259,000 after purchasing an additional 197 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $74.29 on Wednesday. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 3.24 and a beta of 0.75. The business’s fifty day simple moving average is $76.75 and its two-hundred day simple moving average is $77.99. McCormick & Company, Incorporated has a 12 month low of $64.07 and a 12 month high of $85.49. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a $0.45 dividend. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.42%. McCormick & Company, Incorporated’s payout ratio is 61.22%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the sale, the director now directly owns 40,436 shares in the company, valued at approximately $3,194,444. The trade was a 11.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 20,000 shares of company stock worth $1,565,850. Company insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MKC. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price objective 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. 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. Stifel Nicolaus upped their price target 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, Bank of America lifted their price objective 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Moderate Buy” and an average price target of $82.63.

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.