McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Sachetta LLC

Sachetta LLC trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,595 shares of the company’s stock after selling 199 shares during the quarter. Sachetta LLC’s holdings in McCormick & Company, Incorporated were worth $199,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its position in McCormick & Company, Incorporated by 102.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 24,129 shares of the company’s stock worth $1,840,000 after buying an additional 12,229 shares during the period. Apeiron RIA LLC lifted its stake in shares of McCormick & Company, Incorporated by 3.8% in the 4th quarter. Apeiron RIA LLC now owns 4,803 shares of the company’s stock worth $366,000 after acquiring an additional 178 shares during the period. Wendell David Associates Inc. boosted its stake in McCormick & Company, Incorporated by 1.3% during the 4th quarter. Wendell David Associates Inc. now owns 165,660 shares of the company’s stock valued at $12,630,000 after purchasing an additional 2,115 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in McCormick & Company, Incorporated by 3.0% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 579,561 shares of the company’s stock valued at $44,447,000 after buying an additional 16,653 shares in the last quarter. Finally, Albion Financial Group UT bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $33,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MKC shares. JPMorgan Chase & Co. boosted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America increased their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, 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 research report on Monday, December 9th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Insiders Place Their Bets

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of NYSE:MKC opened at $74.90 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market cap of $20.10 billion, a P/E ratio of 25.47, a P/E/G ratio of 3.23 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $64.33 and a 12 month high of $85.49. The company’s 50-day moving average price is $76.64 and its two-hundred day moving average price is $77.96.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share 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%. As a group, research analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors 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 2.40%. 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. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.22%.

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.