Jacobs & Co. CA Acquires 3,020 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Jacobs & Co. CA increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,685 shares of the company’s stock after purchasing an additional 3,020 shares during the period. Jacobs & Co. CA owned approximately 0.06% of McCormick & Company, Incorporated worth $11,411,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Wallington Asset Management LLC boosted its stake in McCormick & Company, Incorporated by 3.4% in the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after purchasing an additional 136 shares in the last quarter. Aurora Investment Counsel lifted its stake in McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock valued at $695,000 after acquiring an additional 172 shares during the period. UMB Bank n.a. lifted its stake in McCormick & Company, Incorporated by 0.9% during the 3rd quarter. UMB Bank n.a. now owns 20,134 shares of the company’s stock valued at $1,657,000 after acquiring an additional 176 shares during the period. Ritholtz Wealth Management lifted its stake in McCormick & Company, Incorporated by 0.9% during the 3rd quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock valued at $1,603,000 after acquiring an additional 177 shares during the period. Finally, Empirical Finance LLC lifted its stake in McCormick & Company, Incorporated by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 8,592 shares of the company’s stock valued at $707,000 after acquiring an additional 190 shares during the period. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MKC. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $86.00 to $90.00 in a report on Wednesday. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Bank of America increased their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.50.

Insider Activity

In related 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 value of $395,000.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded down $2.86 during midday trading on Friday, reaching $71.66. 783,489 shares of the stock traded hands, compared to its average volume of 1,362,846. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The stock has a market capitalization of $19.23 billion, a PE ratio of 24.37, a P/E/G ratio of 3.44 and a beta of 0.75. McCormick & Company, Incorporated has a one year low of $63.88 and a one year high of $85.49. The company’s 50 day moving average is $77.48 and its 200 day moving average is $77.74.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be 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 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.