McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Barlow Wealth Partners Inc.

Barlow Wealth Partners Inc. decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 8.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,950 shares of the company’s stock after selling 255 shares during the quarter. Barlow Wealth Partners Inc.’s holdings in McCormick & Company, Incorporated were worth $212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have 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 valued at about $20,227,000. Hemenway Trust Co LLC increased its holdings in shares of McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after acquiring an additional 58,511 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after purchasing an additional 14,652 shares during the last quarter. Wellington Management Group LLP raised its position in shares of McCormick & Company, Incorporated by 21.7% in the 3rd 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 during the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in McCormick & Company, Incorporated in the 3rd quarter worth approximately $1,104,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MKC shares. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Bank of America lifted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a research note on Wednesday, January 15th. One research 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’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Moderate Buy” and an average target price of $82.63.

Insider Transactions 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 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the transaction, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last 90 days. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 1.3 %

Shares of MKC stock opened at $74.29 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a twelve month low of $64.07 and a twelve month high of $85.49. The company’s 50-day moving average price is $76.75 and its 200-day moving average price is $77.99. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 3.24 and a beta of 0.75.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a $0.45 dividend. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.42%. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

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.