Trust Co. of Vermont Cuts Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Trust Co. of Vermont trimmed its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,883 shares of the company's stock after selling 3,919 shares during the quarter. Trust Co. of Vermont's holdings in McCormick & Company, Incorporated were worth $4,794,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its stake in McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company's stock worth $1,260,499,000 after acquiring an additional 1,114,706 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company's stock worth $69,256,000 after purchasing an additional 975,255 shares in the last quarter. Marshall Wace LLP purchased a new stake in McCormick & Company, Incorporated in the second quarter valued at approximately $51,286,000. Benjamin Edwards Inc. lifted its position in McCormick & Company, Incorporated by 2,778.8% during the third quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company's stock valued at $37,606,000 after purchasing an additional 441,048 shares during the last quarter. Finally, Millennium Management LLC grew its stake in McCormick & Company, Incorporated by 111.2% in the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company's stock worth $52,041,000 after buying an additional 386,320 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MKC shares. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Stifel Nicolaus upped their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $68.00 to $66.00 and set an "underweight" rating for the company in a research report on Wednesday. Bank of America increased their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $82.63.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm's stock in a transaction dated Monday, November 4th. The shares were 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 in the company, valued at $2,210,237.61. This trade 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 this link. In the last three months, insiders have sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Down 0.4 %

McCormick & Company, Incorporated stock traded down $0.27 during trading hours on Friday, 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 fifty day simple moving average of $76.82 and a 200-day simple moving average of $77.91. McCormick & Company, Incorporated has a 52 week low of $63.88 and a 52 week high of $85.49. The stock has a market cap of $19.69 billion, a PE ratio of 24.95, a PEG ratio of 3.07 and a beta of 0.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32.

McCormick & Company, Incorporated Increases Dividend

The firm 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 a positive change from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. This represents a $1.80 dividend on an annualized basis 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.