Alliance Wealth Advisors LLC UT Purchases 690 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Alliance Wealth Advisors LLC UT increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,770 shares of the company’s stock after acquiring an additional 690 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in McCormick & Company, Incorporated were worth $2,117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $20,227,000. Hemenway Trust Co LLC lifted its holdings in McCormick & Company, Incorporated by 71.5% during the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after buying an additional 58,511 shares during the period. Wellington Management Group LLP grew its position in shares of 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 buying an additional 24,881 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of McCormick & Company, Incorporated by 57.6% in the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after buying an additional 14,652 shares during the period. Finally, Qsemble Capital Management LP bought a new position in shares of McCormick & Company, Incorporated during the third quarter worth about $1,104,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated 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 sale, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

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

McCormick & Company, Incorporated Stock Up 1.0 %

Shares of NYSE MKC opened at $78.03 on Tuesday. McCormick & Company, Incorporated has a 12-month low of $64.33 and a 12-month high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm has a market cap of $20.92 billion, a PE ratio of 26.63, a P/E/G ratio of 3.67 and a beta of 0.75. The company’s fifty day simple moving average is $76.72 and its 200 day simple moving average is $78.25.

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 return on equity of 14.89% and a net margin of 11.73%. As a group, sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a $0.45 dividend. This is a positive change 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 annualized dividend and a yield of 2.31%. McCormick & Company, Incorporated’s payout ratio is currently 61.43%.

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.