Diversify Advisory Services LLC Has $649,000 Stake in McCormick & Company, Incorporated (NYSE:MKC)

Diversify Advisory Services LLC lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 48.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,098 shares of the company’s stock after selling 8,556 shares during the quarter. Diversify Advisory Services LLC’s holdings in McCormick & Company, Incorporated were worth $649,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $20,227,000. Hemenway Trust Co LLC increased its holdings in McCormick & Company, Incorporated by 71.5% during the 3rd 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 in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of McCormick & Company, Incorporated by 57.6% in the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after purchasing an additional 14,652 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of McCormick & Company, Incorporated by 21.7% in the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new position in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $1,104,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC opened at $74.29 on Wednesday. The company has a market capitalization of $19.94 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 3.24 and a beta of 0.75. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $76.75 and a 200-day moving average price of $77.99. McCormick & Company, Incorporated has a twelve month low of $64.07 and a twelve month high of $85.49.

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 a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.42%. McCormick & Company, Incorporated’s payout ratio is presently 61.22%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 over the last 90 days. Corporate insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MKC shares. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a report on Wednesday, January 15th. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded 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 analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated 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.