Stiles Financial Services Inc Sells 418 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Stiles Financial Services Inc trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 11.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,133 shares of the company’s stock after selling 418 shares during the period. Stiles Financial Services Inc’s holdings in McCormick & Company, Incorporated were worth $239,000 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 the stock. 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. Kennebec Savings Bank purchased a new position in McCormick & Company, Incorporated in the third quarter valued at approximately $40,000. Finally, Friedenthal Financial bought a new position in McCormick & Company, Incorporated during the third quarter valued at $49,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Up 1.4 %

Shares of NYSE MKC opened at $78.43 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $76.70 and a 200-day moving average of $78.35. The firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 3.67 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 announced its earnings results 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 11.73% and a return on equity of 14.89%. Sell-side analysts expect 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.30%. 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 dividend payout ratio is currently 61.43%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MKC. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, Barclays reduced their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.75.

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.