McCormick & Company, Incorporated (NYSE:MKC) Stock Position Decreased by Fruth Investment Management

Fruth Investment Management decreased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,775 shares of the company’s stock after selling 1,011 shares during the quarter. Fruth Investment Management’s holdings in McCormick & Company, Incorporated were worth $2,956,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MKC. Capital Performance Advisors LLP acquired a new position in shares of McCormick & Company, Incorporated in the third quarter worth about $28,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $38,000. Kennebec Savings Bank acquired a new position in McCormick & Company, Incorporated in the 3rd quarter worth approximately $40,000. Finally, Friedenthal Financial purchased a new position in McCormick & Company, Incorporated during the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.0 %

McCormick & Company, Incorporated stock opened at $76.85 on Thursday. McCormick & Company, Incorporated has a one year low of $64.33 and a one year high of $85.49. The company’s fifty day moving average price is $76.72 and its two-hundred day moving average price is $78.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market capitalization of $20.61 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 3.67 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, December 30th. This is a positive change 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 2.34%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.43%.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MKC shares. JPMorgan Chase & Co. increased their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group raised 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. Barclays decreased their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.75.

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.