McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Bath Savings Trust Co

Bath Savings Trust Co cut its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 151,849 shares of the company's stock after selling 7,093 shares during the quarter. McCormick & Company, Incorporated comprises 1.2% of Bath Savings Trust Co's holdings, making the stock its 26th largest position. Bath Savings Trust Co owned 0.06% of McCormick & Company, Incorporated worth $11,577,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Van ECK Associates Corp acquired a new stake in McCormick & Company, Incorporated during the second quarter worth about $461,000. TD Asset Management Inc grew its holdings in McCormick & Company, Incorporated by 30.8% during the second quarter. TD Asset Management Inc now owns 314,403 shares of the company's stock worth $22,304,000 after acquiring an additional 74,121 shares during the period. National Bank of Canada FI grew its holdings in McCormick & Company, Incorporated by 21.5% during the second quarter. National Bank of Canada FI now owns 69,735 shares of the company's stock worth $4,878,000 after acquiring an additional 12,340 shares during the period. Victory Capital Management Inc. grew its holdings in McCormick & Company, Incorporated by 19.1% during the second quarter. Victory Capital Management Inc. now owns 213,457 shares of the company's stock worth $15,143,000 after acquiring an additional 34,263 shares during the period. Finally, Private Advisor Group LLC grew its holdings in McCormick & Company, Incorporated by 4.0% during the second quarter. Private Advisor Group LLC now owns 57,323 shares of the company's stock worth $4,067,000 after acquiring an additional 2,192 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction 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 sale, the director now owns 28,217 shares in the company, valued at $2,210,237.61. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded up $0.17 during midday trading on Tuesday, hitting $74.30. The stock had a trading volume of 2,034,531 shares, compared to its average volume of 1,493,608. The company has a market capitalization of $19.94 billion, a PE ratio of 25.27, a P/E/G ratio of 3.44 and a beta of 0.75. The stock has a 50 day simple moving average of $77.68 and a 200-day simple moving average of $77.74. McCormick & Company, Incorporated has a 1 year low of $63.88 and a 1 year high of $85.49. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated Increases Dividend

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

Wall Street Analysts Forecast Growth

MKC has been the topic of several analyst reports. Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. TD Cowen raised their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, Bank of America raised their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $81.00.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.