Financiere des Professionnels Fonds d investissement inc. Cuts Position in McCormick & Company, Incorporated (NYSE:MKC)

Financiere des Professionnels Fonds d investissement inc. decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,729 shares of the company’s stock after selling 1,453 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in McCormick & Company, Incorporated were worth $6,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. Capital Performance Advisors LLP purchased a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $28,000. Albion Financial Group UT purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $38,000. Kennebec Savings Bank purchased a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $40,000. Finally, Friedenthal Financial purchased a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $77.07 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $76.61 and a 200 day moving average price of $78.41. The company has a market cap of $20.67 billion, a P/E ratio of 26.30, a PEG ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $64.86 and a 12 month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping 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%. Sell-side analysts predict 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 paid 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 2.34%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is presently 61.43%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares in the company, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

MKC has been the subject of several research reports. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Finally, Barclays dropped 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 research note on Monday, January 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

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.