UMB Bank n.a. Reduces Position in McCormick & Company, Incorporated (NYSE:MKC)

UMB Bank n.a. decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 11.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,762 shares of the company’s stock after selling 2,372 shares during the period. UMB Bank n.a.’s holdings in McCormick & Company, Incorporated were worth $1,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp lifted its position in shares of McCormick & Company, Incorporated by 7.8% during the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after acquiring an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC lifted its holdings in McCormick & Company, Incorporated by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after purchasing an additional 54,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in McCormick & Company, Incorporated by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock valued at $247,158,000 after buying an additional 177,567 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of McCormick & Company, Incorporated by 58.2% during the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after buying an additional 568,276 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock worth $120,409,000 after buying an additional 30,696 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.3 %

Shares of MKC opened at $74.29 on Wednesday. The firm has a market cap of $19.94 billion, a P/E ratio of 25.27, a P/E/G ratio of 3.24 and a beta of 0.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1 year low of $64.07 and a 1 year high of $85.49. The stock has a 50 day simple moving average of $76.75 and a two-hundred day simple moving average of $77.99.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date 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 (DPR) is presently 61.22%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $78.50, for a total value of $392,500.00. Following the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at $3,174,226. The trade was a 11.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 20,000 shares of company stock valued at $1,565,850 over the last three months. Insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a report on Wednesday, January 15th. Finally, Bank of America boosted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.63.

McCormick & Company, Incorporated Company 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.