Dynamic Advisor Solutions LLC Decreases Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Dynamic Advisor Solutions LLC trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,388 shares of the company’s stock after selling 137 shares during the period. Dynamic Advisor Solutions LLC’s holdings in McCormick & Company, Incorporated were worth $868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MKC. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated in the third quarter worth about $28,000. Albion Financial Group UT purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $38,000. Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $39,000. Finally, Kennebec Savings Bank purchased a new position in McCormick & Company, Incorporated in the third quarter valued at approximately $40,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $74.90 on Monday. The company has a 50 day moving average of $76.66 and a 200 day moving average of $78.05. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The stock has a market cap of $20.10 billion, a P/E ratio of 25.47, a P/E/G ratio of 3.23 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $64.33 and a 12 month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. As a group, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a $0.45 dividend. The ex-dividend date was Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.22%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MKC. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Bank of America boosted 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. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Insider Activity

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the sale, the director now directly owns 28,217 shares of the company’s stock, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently 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.