McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Fenimore Asset Management Inc

Fenimore Asset Management Inc increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 748,316 shares of the company’s stock after buying an additional 10,722 shares during the quarter. McCormick & Company, Incorporated comprises about 1.2% of Fenimore Asset Management Inc’s holdings, making the stock its 28th largest position. Fenimore Asset Management Inc owned approximately 0.28% of McCormick & Company, Incorporated worth $57,052,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MKC. Janney Montgomery Scott LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $20,227,000. Hemenway Trust Co LLC lifted its holdings in shares of McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after purchasing an additional 58,511 shares during the period. Oppenheimer & Co. Inc. grew its position in McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after buying an additional 14,652 shares during the last quarter. Wellington Management Group LLP grew its position in McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock valued at $11,500,000 after buying an additional 24,881 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $1,104,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

MKC opened at $74.90 on Friday. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49. The stock has a market cap of $20.10 billion, a P/E ratio of 25.47, a P/E/G ratio of 3.23 and a beta of 0.75. The stock’s 50 day simple moving average is $76.66 and its 200 day simple moving average is $77.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a dividend of $0.45 per share. 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 2.40%. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Insiders Place Their Bets

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

Analyst Ratings Changes

MKC has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Bank of America boosted their target price 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. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company 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 issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

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.