Douglas Lane & Associates LLC Reduces Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Douglas Lane & Associates LLC cut its position in McCormick & Company, Incorporated (NYSE:MKC) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,954 shares of the company’s stock after selling 1,021 shares during the quarter. Douglas Lane & Associates LLC’s holdings in McCormick & Company, Incorporated were worth $530,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $28,000. Kennebec Savings Bank acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $39,000. Friedenthal Financial purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $49,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth $50,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MKC shares. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their target price 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. Bank of America boosted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $86.00 to $90.00 in a report on Wednesday. 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.50.

McCormick & Company, Incorporated Trading Up 0.3 %

Shares of MKC stock opened at $74.54 on Thursday. The business’s fifty day moving average price is $77.55 and its 200 day moving average price is $77.76. The firm has a market capitalization of $20.00 billion, a PE ratio of 25.35, a P/E/G ratio of 3.44 and a beta of 0.75. 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 has a 1-year low of $63.88 and a 1-year high of $85.49.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.41%. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Insider Activity

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the transaction, the director now directly owns 40,436 shares in the company, valued at approximately $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last 90 days. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.