Wendell David Associates Inc. Buys 2,115 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Wendell David Associates Inc. raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,660 shares of the company’s stock after purchasing an additional 2,115 shares during the period. McCormick & Company, Incorporated accounts for approximately 1.2% of Wendell David Associates Inc.’s investment portfolio, making the stock its 24th biggest position. Wendell David Associates Inc. owned approximately 0.06% of McCormick & Company, Incorporated worth $12,630,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wallington Asset Management LLC boosted its holdings in McCormick & Company, Incorporated by 3.4% in the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after purchasing an additional 136 shares during the period. Aurora Investment Counsel boosted its stake in shares of McCormick & Company, Incorporated by 2.1% in the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock valued at $695,000 after buying an additional 172 shares during the period. UMB Bank n.a. grew its position in McCormick & Company, Incorporated by 0.9% during the third quarter. UMB Bank n.a. now owns 20,134 shares of the company’s stock worth $1,657,000 after buying an additional 176 shares in the last quarter. Ritholtz Wealth Management increased its stake in McCormick & Company, Incorporated by 0.9% during the 3rd quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock worth $1,603,000 after acquiring an additional 177 shares during the period. Finally, Empirical Finance LLC raised its holdings in McCormick & Company, Incorporated by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 8,592 shares of the company’s stock valued at $707,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MKC shares. Bank of America boosted their target price 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. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a report on Wednesday, January 15th. Stifel Nicolaus raised their price objective 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. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and a consensus target price of $82.63.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $73.19 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. McCormick & Company, Incorporated has a fifty-two week low of $64.33 and a fifty-two week high of $85.49. The company has a 50 day simple moving average of $76.70 and a two-hundred day simple moving average of $78.01. The company has a market capitalization of $19.64 billion, a PE ratio of 24.89, a P/E/G ratio of 3.28 and a beta of 0.75.

McCormick & Company, Incorporated Increases Dividend

The company 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. The ex-dividend date of this dividend was Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.46%. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 20,000 shares of company stock valued at $1,565,850 over the last quarter. Insiders own 22.90% of the company’s stock.

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.