Thurston Springer Miller Herd & Titak Inc. Purchases 3,671 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 32.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,927 shares of the company’s stock after buying an additional 3,671 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in McCormick & Company, Incorporated were worth $1,138,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $28,000. Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $38,000. Strategic Investment Solutions Inc. IL bought a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $39,000. Kennebec Savings Bank acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth $40,000. Finally, Friedenthal Financial acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth $49,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McCormick & Company, Incorporated

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

Wall Street Analysts Forecast Growth

MKC has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note 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 report on Monday, December 9th. Bank of America boosted their target price 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. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.50.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $71.94 on Wednesday. The stock has a 50 day simple moving average of $77.05 and a 200 day simple moving average of $77.90. McCormick & Company, Incorporated has a 52-week low of $63.88 and a 52-week high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The firm has a market capitalization of $19.31 billion, a PE ratio of 24.47, a P/E/G ratio of 3.44 and a beta of 0.75.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.50%. 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 is 61.22%.

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.