SG Americas Securities LLC Sells 46,527 Shares of McCormick & Company, Incorporated (NYSE:MKC)

SG Americas Securities LLC reduced its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 83.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,071 shares of the company's stock after selling 46,527 shares during the period. SG Americas Securities LLC's holdings in McCormick & Company, Incorporated were worth $692,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Albion Financial Group UT purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $33,000. Ballentine Partners LLC raised its holdings in shares of McCormick & Company, Incorporated by 3.4% in the 4th quarter. Ballentine Partners LLC now owns 6,136 shares of the company's stock valued at $468,000 after acquiring an additional 201 shares in the last quarter. Koshinski Asset Management Inc. grew its holdings in shares of McCormick & Company, Incorporated by 40.7% during the fourth quarter. Koshinski Asset Management Inc. now owns 6,190 shares of the company's stock worth $472,000 after purchasing an additional 1,792 shares in the last quarter. Diversify Wealth Management LLC increased its position in shares of McCormick & Company, Incorporated by 86.9% in the fourth quarter. Diversify Wealth Management LLC now owns 28,249 shares of the company's stock worth $2,017,000 after purchasing an additional 13,132 shares during the last quarter. Finally, Hall Laurie J Trustee raised its stake in McCormick & Company, Incorporated by 46.9% in the fourth quarter. Hall Laurie J Trustee now owns 45,725 shares of the company's stock valued at $3,486,000 after purchasing an additional 14,595 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MKC shares. Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $83.75.

McCormick & Company, Incorporated Stock Down 0.7 %

Shares of NYSE MKC traded down $0.54 during mid-day trading on Friday, hitting $77.24. 1,462,084 shares of the stock traded hands, compared to its average volume of 2,158,164. The company has a market cap of $20.73 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 3.66 and a beta of 0.75. The stock has a fifty day moving average price of $76.73 and a 200-day moving average price of $78.16. McCormick & Company, Incorporated has a 52 week low of $64.33 and a 52 week high of $85.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. Research analysts anticipate that McCormick & Company, Incorporated will post 3.07 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. Investors of record on Monday, December 30th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Monday, December 30th. This is a positive change from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.43%.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the transaction, the director now directly owns 40,436 shares in the company, valued at $3,194,444. This trade represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 15,000 shares of company stock valued at $1,173,350 in the last 90 days. Corporate insiders own 22.90% of the company's stock.

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.