Farmers & Merchants Investments Inc. Trims Stake in McCormick & Company, Incorporated (NYSE:MKC)

Farmers & Merchants Investments Inc. lessened its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 26.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 584 shares of the company’s stock after selling 210 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in McCormick & Company, Incorporated were worth $45,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $28,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $33,000. Kennebec Savings Bank purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at approximately $40,000. Rosenberg Matthew Hamilton acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $38,000. Finally, Friedenthal Financial purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the subject of several analyst reports. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Barclays lowered 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. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $78.43 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 52-week low of $64.33 and a 52-week high of $85.49. The company has a 50-day simple moving average of $76.70 and a 200-day simple moving average of $78.35. The company has a market capitalization of $21.03 billion, a PE ratio of 26.77, a P/E/G ratio of 3.67 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last issued its 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 11.73% and a return on equity of 14.89%. Equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.30%. This is an increase 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 payout ratio is presently 61.43%.

McCormick & Company, Incorporated Company 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.