Stratos Wealth Partners LTD. Increases Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Stratos Wealth Partners LTD. raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 83,516 shares of the company's stock after purchasing an additional 3,863 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in McCormick & Company, Incorporated were worth $6,367,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank grew its holdings in McCormick & Company, Incorporated by 7.0% during the 3rd quarter. Czech National Bank now owns 51,338 shares of the company's stock worth $4,225,000 after acquiring an additional 3,366 shares during the period. Atomi Financial Group Inc. acquired a new position in McCormick & Company, Incorporated in the third quarter valued at approximately $227,000. Rockingstone Advisors LLC boosted its holdings in shares of McCormick & Company, Incorporated by 2.3% during the 3rd quarter. Rockingstone Advisors LLC now owns 31,975 shares of the company's stock worth $2,632,000 after buying an additional 705 shares in the last quarter. USA Financial Formulas bought a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $170,000. Finally, Cadinha & Co. LLC grew its position in shares of McCormick & Company, Incorporated by 20.0% during the 3rd quarter. Cadinha & Co. LLC now owns 4,800 shares of the company's stock worth $395,000 after buying an additional 800 shares during the period. Institutional investors own 79.74% of the company's stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at $2,182,302.78. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 22.90% of the company's stock.

McCormick & Company, Incorporated Stock Up 1.4 %

Shares of MKC stock traded up $1.12 during trading hours on Friday, reaching $78.43. The company had a trading volume of 1,310,724 shares, compared to its average volume of 2,090,431. The company has a market cap of $21.03 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 12 month low of $64.33 and a 12 month high of $85.49. The business has a fifty day simple moving average of $76.70 and a 200-day simple moving average of $78.35.

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, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.30%. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.43%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MKC shares. Barclays cut their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research report on Friday, January 24th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.75.

McCormick & Company, Incorporated Company 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.