Diversify Advisory Services LLC Trims Stake in McCormick & Company, Incorporated (NYSE:MKC)

Diversify Advisory Services LLC lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 48.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. 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.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp increased its position in shares of McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Point72 Asset Management L.P. grew its stake in McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after buying an additional 975,255 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $51,286,000. Benjamin Edwards Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 2,778.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock worth $37,606,000 after acquiring an additional 441,048 shares during the last quarter. Finally, Millennium Management LLC grew its position in McCormick & Company, Incorporated by 111.2% in the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after acquiring an additional 386,320 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 over the last quarter. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Up 1.3 %

NYSE MKC opened at $74.29 on Wednesday. The business’s 50-day moving average is $76.75 and its 200 day moving average is $77.99. The stock has a market capitalization of $19.94 billion, a PE ratio of 25.27, a PEG ratio of 3.24 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 $64.07 and a 1 year high of $85.49.

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 paid a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.42%. McCormick & Company, Incorporated’s payout ratio is 61.22%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 15th. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. 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 note on Wednesday, October 2nd. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Moderate Buy” and a consensus target price of $82.63.

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.