Carnegie Investment Counsel Sells 1,518 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Carnegie Investment Counsel lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,167 shares of the company’s stock after selling 1,518 shares during the period. Carnegie Investment Counsel’s holdings in McCormick & Company, Incorporated were worth $7,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MKC. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $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 purchased a new stake in McCormick & Company, Incorporated in the second quarter valued at approximately $39,000. Kennebec Savings Bank purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $40,000. Finally, Friedenthal Financial acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the transaction, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 20,000 shares of company stock worth $1,565,850. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $73.65 on Friday. The company has a market capitalization of $19.76 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 3.07 and a beta of 0.75. McCormick & Company, Incorporated has a 12-month low of $63.88 and a 12-month high of $85.49. The firm’s 50 day moving average is $76.96 and its 200-day moving average is $77.86. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a $0.45 dividend. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated’s payout ratio is currently 61.22%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MKC. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded shares of 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 research report on Monday, December 9th. JPMorgan Chase & Co. cut their target price on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a research note on Wednesday. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Bank of America boosted their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.63.

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.