Moseley Investment Management Inc. Cuts Position in McCormick & Company, Incorporated (NYSE:MKC)

Moseley Investment Management Inc. trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.7% during the fourth quarter, Holdings Channel reports. The firm owned 17,645 shares of the company’s stock after selling 671 shares during the quarter. Moseley Investment Management Inc.’s holdings in McCormick & Company, Incorporated were worth $1,345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of McCormick & Company, Incorporated by 32.6% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,927 shares of the company’s stock valued at $1,138,000 after buying an additional 3,671 shares during the period. Kathmere Capital Management LLC grew its position in McCormick & Company, Incorporated by 12.6% in the 4th quarter. Kathmere Capital Management LLC now owns 5,313 shares of the company’s stock valued at $405,000 after acquiring an additional 596 shares in the last quarter. Assenagon Asset Management S.A. grew its position in McCormick & Company, Incorporated by 146.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 48,298 shares of the company’s stock valued at $3,682,000 after acquiring an additional 28,736 shares in the last quarter. Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $38,000. Finally, Signal Advisors Wealth LLC lifted its position in shares of McCormick & Company, Incorporated by 9.7% during the fourth quarter. Signal Advisors Wealth LLC now owns 4,639 shares of the company’s stock worth $356,000 after purchasing an additional 410 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the company’s 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 completion of the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $71.94 on Wednesday. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The firm has a market capitalization of $19.31 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75. The business’s fifty day moving average price is $77.05 and its 200 day moving average price is $77.90.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.45 dividend. The ex-dividend date was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.22%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MKC. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Bank of America boosted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “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 company from $86.00 to $90.00 in a research note on Wednesday, January 8th. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have issued 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 currently has a consensus rating of “Moderate Buy” and an average price target of $81.50.

About McCormick & Company, Incorporated

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.