Avanza Fonder AB Buys Shares of 24,829 McCormick & Company, Incorporated (NYSE:MKC)

Avanza Fonder AB acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,829 shares of the company's stock, valued at approximately $1,893,000.

Several other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its position in McCormick & Company, Incorporated by 7.8% during 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 during the period. Point72 Asset Management L.P. boosted its stake in McCormick & Company, Incorporated by 97,525.5% in the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company's stock valued at $69,256,000 after acquiring an additional 975,255 shares during the last quarter. Marshall Wace LLP acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth $51,286,000. Benjamin Edwards Inc. lifted its stake in shares of McCormick & Company, Incorporated by 2,778.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company's stock valued at $37,606,000 after purchasing an additional 441,048 shares during the period. Finally, Millennium Management LLC boosted its position in shares of McCormick & Company, Incorporated by 111.2% in the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company's stock worth $52,041,000 after purchasing an additional 386,320 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on MKC shares. JPMorgan Chase & Co. lowered their target price on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an "underweight" rating for the company in a research note on Wednesday. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of "Moderate Buy" and an average target price of $82.63.

Insiders Place Their Bets

In related news, Director Jacques Tapiero sold 5,000 shares of the business'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 sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 20,000 shares of company stock worth $1,565,850 over the last three months. Insiders own 22.90% of the company's stock.

McCormick & Company, Incorporated Stock Performance

MKC traded down $0.27 during trading hours on Friday, reaching $73.35. The company's stock had a trading volume of 1,845,003 shares, compared to its average volume of 1,374,659. The company's 50-day moving average is $76.82 and its 200-day moving average is $77.91. McCormick & Company, Incorporated has a 52 week low of $63.88 and a 52 week high of $85.49. The firm has a market cap of $19.69 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 3.07 and a beta of 0.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a $0.45 dividend. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.45%. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.22%.

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.