RFG Advisory LLC Decreases Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

RFG Advisory LLC lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,365 shares of the company’s stock after selling 718 shares during the quarter. RFG Advisory LLC’s holdings in McCormick & Company, Incorporated were worth $1,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wallington Asset Management LLC raised its stake in shares of McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after buying an additional 136 shares in the last quarter. Aurora Investment Counsel boosted its stake in shares of McCormick & Company, Incorporated by 2.1% in the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock valued at $695,000 after buying an additional 172 shares in the last quarter. UMB Bank n.a. grew its holdings in McCormick & Company, Incorporated by 0.9% during the third quarter. UMB Bank n.a. now owns 20,134 shares of the company’s stock worth $1,657,000 after acquiring an additional 176 shares during the period. Ritholtz Wealth Management raised its position in McCormick & Company, Incorporated by 0.9% in the third quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock worth $1,603,000 after acquiring an additional 177 shares in the last quarter. Finally, Apeiron RIA LLC lifted its holdings in McCormick & Company, Incorporated by 3.8% in the fourth quarter. Apeiron RIA LLC now owns 4,803 shares of the company’s stock valued at $366,000 after acquiring an additional 178 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was 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 in the company, valued at approximately $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $74.90 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $64.33 and a fifty-two week high of $85.49. The company has a market capitalization of $20.10 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 3.23 and a beta of 0.75. The stock has a fifty day moving average of $76.66 and a two-hundred day moving average of $77.99. 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 (NYSE:MKC) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 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%. On average, analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.22%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MKC shares. Bank of America increased their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

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.