Dakota Wealth Management Sells 2,589 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Dakota Wealth Management reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,873 shares of the company’s stock after selling 2,589 shares during the quarter. Dakota Wealth Management’s holdings in McCormick & Company, Incorporated were worth $3,879,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of McCormick & Company, Incorporated by 7.8% during the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after buying an additional 1,114,706 shares during the period. Geode Capital Management LLC increased its stake in McCormick & Company, Incorporated by 0.9% in the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock valued at $482,823,000 after purchasing an additional 54,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in McCormick & Company, Incorporated by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock valued at $247,158,000 after purchasing an additional 177,567 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of McCormick & Company, Incorporated by 58.2% during the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after purchasing an additional 568,276 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock worth $120,409,000 after purchasing an additional 30,696 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $73.19 on Thursday. The company has a fifty day moving average price of $76.70 and a 200-day moving average price of $78.01. The firm has a market cap of $19.64 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 3.24 and a beta of 0.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1 year low of $64.33 and a 1 year high of $85.49.

McCormick & Company, Incorporated Increases Dividend

The company 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 represents a $1.80 dividend on an annualized basis and a yield of 2.46%. 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 dividend payout ratio is presently 61.22%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 20,000 shares of company stock worth $1,565,850. Insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

MKC has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Bank of America increased 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. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.63.

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.