Vest Financial LLC Purchases 63,638 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Vest Financial LLC raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9.7% in the fourth quarter, Holdings Channel reports. The fund owned 720,578 shares of the company’s stock after buying an additional 63,638 shares during the quarter. Vest Financial LLC’s holdings in McCormick & Company, Incorporated were worth $54,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tobam lifted its position in shares of McCormick & Company, Incorporated by 5.4% during the 4th quarter. Tobam now owns 26,648 shares of the company’s stock worth $2,032,000 after purchasing an additional 1,368 shares during the last quarter. Global X Japan Co. Ltd. lifted its holdings in shares of McCormick & Company, Incorporated by 16.2% during the fourth quarter. Global X Japan Co. Ltd. now owns 6,604 shares of the company’s stock worth $503,000 after buying an additional 920 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of McCormick & Company, Incorporated by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,610 shares of the company’s stock valued at $2,791,000 after acquiring an additional 449 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of McCormick & Company, Incorporated by 1.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 623,774 shares of the company’s stock worth $47,557,000 after acquiring an additional 11,417 shares during the last quarter. Finally, Tyche Wealth Partners LLC bought a new position in McCormick & Company, Incorporated during the fourth quarter worth $732,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Up 1.4 %

NYSE MKC opened at $78.43 on Friday. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49. The company has a market capitalization of $21.03 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 3.67 and a beta of 0.75. The stock’s 50 day moving average is $76.69 and its two-hundred day moving average is $78.29. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 EPS 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%. Equities analysts forecast 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 announced 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. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.43%.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of research reports. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped 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, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s 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 completion of the sale, the director now directly owns 28,217 shares of the company’s stock, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.90% of the stock is currently owned by insiders.

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.