McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,050 shares of the company’s stock after selling 163 shares during the quarter. Vontobel Holding Ltd.’s holdings in McCormick & Company, Incorporated were worth $3,663,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in McCormick & Company, Incorporated during the third quarter worth approximately $20,227,000. Hemenway Trust Co LLC raised its position in McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after purchasing an additional 58,511 shares during the last quarter. Wellington Management Group LLP raised its position in McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock valued at $11,500,000 after purchasing an additional 24,881 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after purchasing an additional 14,652 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $1,104,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on MKC shares. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $77.07 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a 1 year low of $64.86 and a 1 year high of $85.49. The stock has a market capitalization of $20.67 billion, a P/E ratio of 26.30, a P/E/G ratio of 3.67 and a beta of 0.75. The company’s fifty day moving average is $76.61 and its two-hundred day moving average is $78.41.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared 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 of this dividend was 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 2.34%. McCormick & Company, Incorporated’s dividend payout ratio is 61.43%.

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.