McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lessened its position in McCormick & Company, Incorporated (NYSE:MKC) by 15.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,863 shares of the company’s stock after selling 1,390 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in McCormick & Company, Incorporated were worth $599,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Cornell Pochily Investment Advisors Inc. boosted its stake in McCormick & Company, Incorporated by 9.8% during the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 4,343 shares of the company’s stock worth $331,000 after purchasing an additional 386 shares during the last quarter. KBC Group NV lifted its stake in shares of McCormick & Company, Incorporated by 8.1% in the fourth quarter. KBC Group NV now owns 40,903 shares of the company’s stock worth $3,119,000 after buying an additional 3,051 shares in the last quarter. Blue Trust Inc. boosted its position in McCormick & Company, Incorporated by 43.8% during the fourth quarter. Blue Trust Inc. now owns 3,001 shares of the company’s stock worth $247,000 after acquiring an additional 914 shares during the last quarter. KFG Wealth Management LLC grew its stake in McCormick & Company, Incorporated by 5.1% during the 4th quarter. KFG Wealth Management LLC now owns 9,968 shares of the company’s stock valued at $760,000 after acquiring an additional 484 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its holdings in McCormick & Company, Incorporated by 4.1% in the 4th quarter. Toth Financial Advisory Corp now owns 32,257 shares of the company’s stock valued at $2,459,000 after acquiring an additional 1,265 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 0.3 %

Shares of MKC opened at $76.73 on Wednesday. The company’s 50-day moving average price is $76.71 and its 200 day moving average price is $78.14. McCormick & Company, Incorporated has a 12-month low of $64.33 and a 12-month high of $85.49. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The firm has a market cap of $20.59 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 3.23 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.35%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MKC shares. Bank of America boosted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. boosted 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. Finally, Stifel Nicolaus raised their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.75.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the transaction, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 over the last ninety days. Company insiders own 22.90% of the company’s stock.

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.