SL Advisors LLC Cuts Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

SL Advisors LLC decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,566 shares of the company’s stock after selling 146 shares during the period. SL Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in shares of McCormick & Company, Incorporated by 10.0% during the 4th quarter. Nordea Investment Management AB now owns 21,507 shares of the company’s stock valued at $1,641,000 after acquiring an additional 1,955 shares during the period. Everence Capital Management Inc. grew its holdings in McCormick & Company, Incorporated by 73.9% in the fourth quarter. Everence Capital Management Inc. now owns 10,590 shares of the company’s stock valued at $807,000 after purchasing an additional 4,500 shares during the last quarter. Principal Financial Group Inc. grew its holdings in McCormick & Company, Incorporated by 8.9% in the third quarter. Principal Financial Group Inc. now owns 308,903 shares of the company’s stock valued at $25,423,000 after purchasing an additional 25,278 shares during the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of McCormick & Company, Incorporated by 0.8% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 76,831 shares of the company’s stock worth $6,324,000 after buying an additional 632 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of McCormick & Company, Incorporated by 10.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 93,400 shares of the company’s stock worth $7,687,000 after buying an additional 8,671 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the company’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 value of $395,000.00. Following the completion of the transaction, the director now owns 40,436 shares in the company, valued at $3,194,444. This represents a 11.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Trading Up 0.3 %

Shares of NYSE:MKC traded up $0.20 during trading on Wednesday, reaching $74.52. 425,007 shares of the stock were exchanged, compared to its average volume of 1,268,667. The firm’s 50-day moving average price is $77.62 and its 200 day moving average price is $77.78. The firm has a market cap of $20.00 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75. McCormick & Company, Incorporated has a 12-month low of $63.88 and a 12-month high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.22%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MKC. Stifel Nicolaus increased their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a report on Wednesday. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Bank of America lifted their target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Moderate Buy” and a consensus target price of $81.50.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.