Diversify Advisory Services LLC Decreases Position in McCormick & Company, Incorporated (NYSE:MKC)

Diversify Advisory Services LLC lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 48.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,098 shares of the company's stock after selling 8,556 shares during the period. Diversify Advisory Services LLC's holdings in McCormick & Company, Incorporated were worth $649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MKC. Capital Performance Advisors LLP purchased a new stake in McCormick & Company, Incorporated during the third quarter worth $28,000. Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated during the fourth quarter worth $38,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $39,000. Kennebec Savings Bank purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $40,000. Finally, Friedenthal Financial purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company's stock.

McCormick & Company, Incorporated Stock Performance

MKC traded down $0.86 during midday trading on Wednesday, hitting $73.39. 808,355 shares of the company were exchanged, compared to its average volume of 1,907,634. The company's 50 day simple moving average is $76.70 and its 200 day simple moving average is $78.01. The firm has a market capitalization of $19.69 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 3.24 and a beta of 0.75. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49.

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 given 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 annualized dividend and a yield of 2.45%. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 61.22%.

Analysts Set New Price Targets

Several brokerages have recently commented on MKC. Bank of America increased 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. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a 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 company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, 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 research note on Wednesday, October 2nd. One 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. According to MarketBeat.com, McCormick & Company, Incorporated has an average rating of "Moderate Buy" and a consensus price target of $82.63.

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.