Hall Laurie J Trustee Increases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Hall Laurie J Trustee boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 46.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,725 shares of the company's stock after buying an additional 14,595 shares during the quarter. McCormick & Company, Incorporated makes up approximately 1.1% of Hall Laurie J Trustee's investment portfolio, making the stock its 28th largest position. Hall Laurie J Trustee's holdings in McCormick & Company, Incorporated were worth $3,486,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated during the third quarter worth about $28,000. Kennebec Savings Bank acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at approximately $40,000. Rosenberg Matthew Hamilton bought a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $38,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of McCormick & Company, Incorporated in the 2nd quarter worth approximately $39,000. Finally, Friedenthal Financial bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $49,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the 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 of the company's stock, valued at $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $1,565,850. Insiders own 22.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MKC shares. Stifel Nicolaus lifted their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their target price on McCormick & Company, Incorporated from $68.00 to $66.00 and set an "underweight" rating for the company in a report on Wednesday, January 15th. Finally, Bank of America increased their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, McCormick & Company, Incorporated has an average rating of "Moderate Buy" and an average price target of $82.63.

McCormick & Company, Incorporated Stock Down 0.4 %

McCormick & Company, Incorporated stock traded down $0.27 during mid-day trading on Monday, reaching $73.35. The stock had a trading volume of 1,845,003 shares, compared to its average volume of 1,374,659. 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 has a fifty-two week low of $63.88 and a fifty-two week high of $85.49. The stock's 50-day simple moving average is $76.82 and its 200-day simple moving average is $77.96. The firm has a market capitalization 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.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued 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 was Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 2.45%. McCormick & Company, Incorporated's dividend payout ratio is presently 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.