Hazlett Burt & Watson Inc. Raises Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Hazlett Burt & Watson Inc. boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,040 shares of the company’s stock after acquiring an additional 137 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in McCormick & Company, Incorporated were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. International Private Wealth Advisors LLC raised its position in shares of McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after acquiring an additional 136 shares in the last quarter. Empower Advisory Group LLC increased its stake in McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after purchasing an additional 138 shares during the last quarter. Hunter Associates Investment Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after purchasing an additional 153 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of McCormick & Company, Incorporated by 1.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company’s stock worth $755,000 after buying an additional 154 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of McCormick & Company, Incorporated by 3.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company’s stock valued at $427,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 23.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MKC. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays dropped their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.75.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $81.47 on Monday. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The stock’s fifty day moving average is $79.26 and its 200-day moving average is $78.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The firm has a market capitalization of $21.85 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.86%.

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.