First Pacific Financial Sells 324 Shares of McCormick & Company, Incorporated (NYSE:MKC)

First Pacific Financial cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,947 shares of the company’s stock after selling 324 shares during the quarter. First Pacific Financial’s holdings in McCormick & Company, Incorporated were worth $1,063,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $28,000. Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated in the fourth quarter worth $38,000. Strategic Investment Solutions Inc. IL bought a new position in McCormick & Company, Incorporated in the second quarter worth $39,000. Kennebec Savings Bank purchased a new position in McCormick & Company, Incorporated during the third quarter valued at $40,000. Finally, Friedenthal Financial bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $49,000. 79.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MKC. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America upped their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and a consensus price target of $82.63.

McCormick & Company, Incorporated Stock Up 2.6 %

Shares of NYSE MKC opened at $73.65 on Friday. The stock has a 50 day moving average price of $76.96 and a 200 day moving average price of $77.86. The firm has a market capitalization of $19.76 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.07 and a beta of 0.75. McCormick & Company, Incorporated has a 52-week low of $63.88 and a 52-week high of $85.49. 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 Increases Dividend

The company also recently declared 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. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. 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 2.44%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.22%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the sale, the director now owns 40,436 shares in the company, valued at $3,194,444. This represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company’s stock.

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.