McCormick & Company, Incorporated (NYSE:MKC) Position Boosted by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 40.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,190 shares of the company’s stock after buying an additional 1,792 shares during the quarter. Koshinski Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $472,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated in the third quarter worth approximately $28,000. Rosenberg Matthew Hamilton acquired a new stake in McCormick & Company, Incorporated in the fourth quarter worth approximately $38,000. Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated in the second quarter worth approximately $39,000. Kennebec Savings Bank acquired a new stake in McCormick & Company, Incorporated in the third quarter worth approximately $40,000. Finally, Friedenthal Financial acquired a new stake in McCormick & Company, Incorporated in the third quarter worth approximately $49,000. 79.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MKC shares. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Bank of America upped 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. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Stifel Nicolaus increased their price objective 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. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One equities research 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.63.

Insider Activity

In other 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 value of $386,700.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 20,000 shares of company stock worth $1,565,850 over the last quarter. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC opened at $73.19 on Thursday. The stock has a fifty day moving average of $76.70 and a 200-day moving average of $78.01. The firm has a market capitalization of $19.64 billion, a P/E ratio of 24.89, a PEG ratio of 3.24 and a beta of 0.75. McCormick & Company, Incorporated has a 12-month low of $64.33 and a 12-month 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 announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.22%.

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.