Benin Management CORP Invests $267,000 in McCormick & Company, Incorporated (NYSE:MKC)

Benin Management CORP acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,500 shares of the company's stock, valued at approximately $267,000.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. Albion Financial Group UT purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $33,000. Kennebec Savings Bank acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth about $40,000. Rosenberg Matthew Hamilton purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth about $38,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated in the second quarter valued at about $39,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the director now owns 28,217 shares of the company's stock, valued at approximately $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 over the last quarter. Insiders own 22.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MKC. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday. Finally, Bank of America raised their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

McCormick & Company, Incorporated Price Performance

NYSE:MKC traded up $0.14 during mid-day trading on Friday, hitting $74.90. 2,648,196 shares of the company's stock traded hands, compared to its average volume of 1,611,340. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The company has a market cap of $20.10 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 3.23 and a beta of 0.75. The firm's 50 day simple moving average is $76.66 and its 200 day simple moving average is $77.99. McCormick & Company, Incorporated has a 1 year low of $64.33 and a 1 year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping 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%. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a $0.45 dividend. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio is currently 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.