McCormick & Company, Incorporated (NYSE:MKC) Stock Position Raised by Spring Capital Management LLC

Spring Capital Management LLC boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,466 shares of the company’s stock after acquiring an additional 1,590 shares during the period. McCormick & Company, Incorporated comprises about 2.7% of Spring Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. Spring Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $4,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wallington Asset Management LLC raised its position in shares of McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after purchasing an additional 136 shares during the period. Aurora Investment Counsel increased its position in McCormick & Company, Incorporated by 2.1% in the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock worth $695,000 after buying an additional 172 shares during the period. UMB Bank n.a. lifted its stake in McCormick & Company, Incorporated by 0.9% in the third quarter. UMB Bank n.a. now owns 20,134 shares of the company’s stock valued at $1,657,000 after buying an additional 176 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of McCormick & Company, Incorporated by 0.9% during the third quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock valued at $1,603,000 after acquiring an additional 177 shares during the period. Finally, Empirical Finance LLC grew its position in shares of McCormick & Company, Incorporated by 2.3% during the third quarter. Empirical Finance LLC now owns 8,592 shares of the company’s stock worth $707,000 after acquiring an additional 190 shares during the last quarter. 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 firm’s stock in a transaction on 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 sale, the director now directly owns 28,217 shares of the company’s stock, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 20,000 shares of company stock valued at $1,565,850 in the last quarter. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.4 %

Shares of MKC stock opened at $73.35 on Friday. The stock has a 50-day simple moving average of $76.90 and a 200 day simple moving average of $77.83. The stock has a market capitalization of $19.69 billion, a P/E ratio of 24.95, a P/E/G ratio of 3.07 and a beta of 0.75. McCormick & Company, Incorporated has a fifty-two week low of $63.88 and a fifty-two week high of $85.49. 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a dividend of $0.45 per share. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.45%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MKC shares. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America boosted their price objective 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. JPMorgan Chase & Co. lowered their target price on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a research report on Wednesday. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.63.

McCormick & Company, Incorporated 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.