Boston Common Asset Management LLC Sells 7,763 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Boston Common Asset Management LLC reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,840 shares of the company’s stock after selling 7,763 shares during the period. Boston Common Asset Management LLC owned about 0.05% of McCormick & Company, Incorporated worth $11,195,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in shares of McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Point72 Asset Management L.P. increased its stake in McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after buying an additional 975,255 shares during the last quarter. Marshall Wace LLP bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth about $51,286,000. Benjamin Edwards Inc. boosted its stake in shares of McCormick & Company, Incorporated by 2,778.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock worth $37,606,000 after buying an additional 441,048 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 111.2% in the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after acquiring an additional 386,320 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

MKC stock traded up $0.18 during mid-day trading on Friday, hitting $73.80. 215,654 shares of the company were exchanged, compared to its average volume of 1,711,555. McCormick & Company, Incorporated has a 1-year low of $63.88 and a 1-year high of $85.49. The stock has a market capitalization of $19.80 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 3.07 and a beta of 0.75. The business has a 50 day simple moving average of $76.96 and a 200-day simple moving average of $77.86. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated Increases Dividend

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

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 in the last ninety days. 22.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on MKC shares. JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a report on Wednesday. Jefferies Financial Group upgraded 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 research note on Monday, December 9th. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America lifted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.63.

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.