Fruth Investment Management Sells 1,011 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Fruth Investment Management lessened its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,775 shares of the company’s stock after selling 1,011 shares during the quarter. Fruth Investment Management’s holdings in McCormick & Company, Incorporated were worth $2,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated during the third quarter worth $28,000. Albion Financial Group UT bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $33,000. Kennebec Savings Bank acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at about $40,000. Rosenberg Matthew Hamilton bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at about $38,000. Finally, Friedenthal Financial acquired a new position in McCormick & Company, Incorporated in the third quarter worth about $49,000. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MKC. JPMorgan Chase & Co. lifted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Barclays dropped their target price on shares of 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.75.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.0 %

MKC stock opened at $76.85 on Thursday. The business has a fifty day moving average of $76.72 and a 200-day moving average of $78.30. The company has a market cap of $20.61 billion, a P/E ratio of 26.23, a PEG ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $64.33 and a twelve month high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders 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 yield of 2.34%. The ex-dividend date of this dividend was Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is currently 61.43%.

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.