Diversify Wealth Management LLC Has $2.02 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Diversify Wealth Management LLC increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 86.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,249 shares of the company’s stock after purchasing an additional 13,132 shares during the quarter. Diversify Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,017,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. Rosenberg Matthew Hamilton bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at about $38,000. Strategic Investment Solutions Inc. IL acquired a new position in McCormick & Company, Incorporated in the second quarter valued at about $39,000. Kennebec Savings Bank bought a new position in McCormick & Company, Incorporated during the third quarter worth about $40,000. Finally, Friedenthal Financial acquired a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $49,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $73.35 on Tuesday. McCormick & Company, Incorporated has a 52 week low of $63.88 and a 52 week high of $85.49. The company has a market capitalization of $19.69 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 3.07 and a beta of 0.75. The company has a 50-day simple moving average of $76.82 and a 200 day simple moving average of $77.96. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is currently 61.22%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Stifel Nicolaus boosted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their price objective on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 15th. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.63.

Insider Activity

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated 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 completion of the sale, the director now directly owns 40,436 shares of the company’s stock, valued at approximately $3,194,444. This trade represents a 11.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Company 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.