AMI Asset Management Corp Has $28.67 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

AMI Asset Management Corp lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 375,994 shares of the company's stock after selling 8,828 shares during the period. AMI Asset Management Corp owned about 0.14% of McCormick & Company, Incorporated worth $28,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp raised its stake in shares of McCormick & Company, Incorporated by 7.8% during the third 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 during the period. Geode Capital Management LLC lifted its holdings in 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 buying an additional 54,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 valued at $247,158,000 after buying an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. grew its stake 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 acquiring an additional 568,276 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of McCormick & Company, Incorporated by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company's stock worth $120,409,000 after acquiring an additional 30,696 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MKC. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company 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 raised their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an "underweight" rating on the stock in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Moderate Buy" and an average price target of $82.63.

McCormick & Company, Incorporated Stock Performance

MKC traded up $0.98 on Tuesday, hitting $74.29. 3,452,484 shares of the company's stock were exchanged, compared to its average volume of 1,923,171. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average of $76.75 and a two-hundred day moving average of $77.99. The firm has a market cap of $19.94 billion, a PE ratio of 25.27, a P/E/G ratio of 3.24 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $64.07 and a twelve month high of $85.49.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.22%.

Insiders Place Their Bets

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at $3,174,226. The trade was a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 20,000 shares of company stock valued at $1,565,850 over the last three months. Company insiders own 22.90% of the company's stock.

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.