ST Germain D J Co. Inc. Has $585,000 Holdings in McCormick & Company, Incorporated (NYSE:MKC)

ST Germain D J Co. Inc. lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,670 shares of the company’s stock after acquiring an additional 1,530 shares during the quarter. ST Germain D J Co. Inc.’s holdings in McCormick & Company, Incorporated were worth $585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $20,227,000. Hemenway Trust Co LLC boosted its holdings in shares of McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after acquiring an additional 58,511 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings 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 worth $3,298,000 after acquiring an additional 14,652 shares in the last quarter. Wellington Management Group LLP boosted its holdings 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 worth $11,500,000 after acquiring an additional 24,881 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $1,104,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MKC. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $90.00 in a report on Wednesday. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America upped 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. Stifel Nicolaus upped their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.50.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $71.40 on Friday. The business’s fifty day moving average is $77.33 and its 200-day moving average is $77.75. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $19.16 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $63.88 and a twelve month high of $85.49.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a $0.45 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at $2,210,237.61. This represents a 15.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 in the last quarter. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.