Sky Investment Group LLC Sells 1,060 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Sky Investment Group LLC cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,537 shares of the company’s stock after selling 1,060 shares during the period. Sky Investment Group LLC’s holdings in McCormick & Company, Incorporated were worth $346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MKC. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $28,000. Kennebec Savings Bank purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $40,000. Rosenberg Matthew Hamilton bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $38,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of McCormick & Company, Incorporated in the second quarter worth $39,000. Finally, Friedenthal Financial bought a new stake 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on MKC. Stifel Nicolaus upped their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Bank of America upped their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen raised shares of 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 report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.63.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $73.35 on Tuesday. The firm has a fifty day simple moving average of $76.82 and a two-hundred day simple moving average of $77.96. McCormick & Company, Incorporated has a twelve month low of $63.88 and a twelve month high of $85.49. The company has a market capitalization of $19.69 billion, a PE ratio of 24.95, a P/E/G ratio of 3.07 and a beta of 0.75. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.45%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at $2,182,302.78. This represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 in the last ninety days. 22.90% of the stock is owned by insiders.

About McCormick & Company, Incorporated

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.