Field & Main Bank Grows Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Field & Main Bank boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 25.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,140 shares of the company’s stock after buying an additional 840 shares during the quarter. Field & Main Bank’s holdings in McCormick & Company, Incorporated were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in MKC. Janney Montgomery Scott LLC purchased a new stake in McCormick & Company, Incorporated in the third quarter worth about $20,227,000. Hemenway Trust Co LLC boosted its holdings in shares of McCormick & Company, Incorporated by 71.5% during the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after purchasing an additional 58,511 shares during the last quarter. Wellington Management Group LLP grew its position in shares of McCormick & Company, Incorporated by 21.7% during the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock valued at $11,500,000 after purchasing an additional 24,881 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of McCormick & Company, Incorporated by 57.6% in the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after purchasing an additional 14,652 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter worth about $1,104,000. 79.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MKC shares. Bank of America raised their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Trading Down 0.1 %

Shares of MKC traded down $0.09 during trading hours on Wednesday, reaching $76.60. 86,168 shares of the company traded hands, compared to its average volume of 2,146,161. The stock’s fifty day moving average price is $76.74 and its 200 day moving average price is $78.17. 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 firm has a market cap of $20.56 billion, a price-to-earnings ratio of 26.07, a PEG 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 data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed 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 represents a $1.80 annualized dividend and a yield of 2.35%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 20,000 shares of company stock worth $1,565,850 in the last ninety days. 22.90% of the stock is owned by company insiders.

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.