McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 15.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,863 shares of the company’s stock after selling 1,390 shares during the period. Parsons Capital Management Inc. RI’s holdings in McCormick & Company, Incorporated were worth $599,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in McCormick & Company, Incorporated in the third quarter valued at $28,000. Albion Financial Group UT acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at about $33,000. Rosenberg Matthew Hamilton purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $38,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of McCormick & Company, Incorporated during the second quarter worth about $39,000. Finally, Kennebec Savings Bank purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth approximately $40,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. This trade represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 in the last 90 days. 22.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Barclays decreased their price objective 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. JPMorgan Chase & Co. increased their target price 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 target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $76.73 on Wednesday. The stock’s 50-day moving average is $76.71 and its two-hundred day moving average is $78.14. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. McCormick & Company, Incorporated has a 1 year low of $64.33 and a 1 year high of $85.49. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 3.23 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. Analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a dividend of $0.45 per share. 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.35%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

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.