Sage Capital Advisors llc Reduces Stake in McCormick & Company, Incorporated (NYSE:MKC)

Sage Capital Advisors llc lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 38.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,880 shares of the company’s stock after selling 3,004 shares during the quarter. Sage Capital Advisors llc’s holdings in McCormick & Company, Incorporated were worth $372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in McCormick & Company, Incorporated by 19.1% in the 2nd quarter. Victory Capital Management Inc. now owns 213,457 shares of the company’s stock worth $15,143,000 after purchasing an additional 34,263 shares in the last quarter. Acadian Asset Management LLC grew its position in McCormick & Company, Incorporated by 44.3% during the second quarter. Acadian Asset Management LLC now owns 17,728 shares of the company’s stock worth $1,256,000 after buying an additional 5,443 shares in the last quarter. Choreo LLC increased its stake in McCormick & Company, Incorporated by 22.4% in the 2nd quarter. Choreo LLC now owns 17,070 shares of the company’s stock worth $1,194,000 after acquiring an additional 3,122 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of McCormick & Company, Incorporated by 16.8% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 3,867 shares of the company’s stock valued at $274,000 after acquiring an additional 557 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in shares of McCormick & Company, Incorporated by 9.3% during the 2nd quarter. Coldstream Capital Management Inc. now owns 8,736 shares of the company’s stock valued at $620,000 after acquiring an additional 740 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the sale, the director now owns 28,217 shares in the company, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 over the last quarter. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 3.2 %

Shares of NYSE MKC traded down $2.42 during trading hours on Friday, hitting $72.10. The company’s stock had a trading volume of 471,899 shares, compared to its average volume of 1,307,650. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49. The stock has a market cap of $19.35 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 3.44 and a beta of 0.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The business has a 50-day simple moving average of $77.48 and a 200-day simple moving average of $77.74.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.45 dividend. This is a positive change 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 2.50%. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) 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.