Wendell David Associates Inc. Has $12.63 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Wendell David Associates Inc. raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 1.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 165,660 shares of the company’s stock after buying an additional 2,115 shares during the quarter. McCormick & Company, Incorporated makes up about 1.2% of Wendell David Associates Inc.’s holdings, making the stock its 24th largest position. Wendell David Associates Inc.’s holdings in McCormick & Company, Incorporated were worth $12,630,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in McCormick & Company, Incorporated by 98.0% during the second quarter. American Century Companies Inc. now owns 46,543 shares of the company’s stock worth $3,302,000 after purchasing an additional 23,033 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of McCormick & Company, Incorporated by 6.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 21,338 shares of the company’s stock worth $1,514,000 after purchasing an additional 1,350 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of McCormick & Company, Incorporated by 45.5% in the 2nd quarter. Pacer Advisors Inc. now owns 24,723 shares of the company’s stock worth $1,754,000 after purchasing an additional 7,730 shares during the period. Sei Investments Co. raised its holdings in shares of McCormick & Company, Incorporated by 2.6% in the 2nd quarter. Sei Investments Co. now owns 159,586 shares of the company’s stock worth $11,321,000 after purchasing an additional 3,992 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in McCormick & Company, Incorporated by 11.2% in the second quarter. Thrivent Financial for Lutherans now owns 13,353 shares of the company’s stock valued at $947,000 after purchasing an additional 1,349 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the topic of several recent research reports. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Stifel Nicolaus boosted their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Bank of America boosted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.63.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $73.19 on Thursday. McCormick & Company, Incorporated has a 52-week low of $64.33 and a 52-week high of $85.49. The stock has a fifty day moving average of $76.70 and a 200 day moving average of $78.01. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 3.28 and a beta of 0.75.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a $0.45 dividend. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.22%.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the company’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 directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 in the last quarter. Corporate 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.