McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,375 shares of the company’s stock after selling 430 shares during the period. Birch Hill Investment Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $5,365,000 at the end of the most recent reporting period.

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

Insider Activity

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the transaction, the director now directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

McCormick & Company, Incorporated Stock Up 1.4 %

Shares of MKC stock opened at $78.43 on Friday. McCormick & Company, Incorporated has a 1 year low of $64.33 and a 1 year high of $85.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The business’s fifty day moving average is $76.70 and its 200-day moving average is $78.32. The stock has a market cap of $21.03 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 analysts expect 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 announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. 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 payout ratio is presently 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.