Pineno Levin & Ford Asset Management Inc. cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.3% during the third quarter, Holdings Channel reports. The institutional investor owned 43,863 shares of the company’s stock after selling 150 shares during the period. McCormick & Company, makes up approximately 2.2% of Pineno Levin & Ford Asset Management Inc.’s portfolio, making the stock its 16th largest position. Pineno Levin & Ford Asset Management Inc.’s holdings in McCormick & Company, were worth $4,383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. increased its stake in shares of McCormick & Company, by 34.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 193,081 shares of the company’s stock worth $20,595,000 after buying an additional 49,976 shares during the period. Oakbrook Investments LLC increased its stake in shares of McCormick & Company, by 19.6% in the second quarter. Oakbrook Investments LLC now owns 297,720 shares of the company’s stock worth $31,758,000 after buying an additional 48,715 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of McCormick & Company, by 151.2% in the second quarter. Meeder Asset Management Inc. now owns 1,575 shares of the company’s stock worth $169,000 after buying an additional 948 shares during the last quarter. Sigma Planning Corp acquired a new stake in shares of McCormick & Company, during the second quarter worth about $211,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of McCormick & Company, by 522.2% in the second quarter. Daiwa Securities Group Inc. now owns 16,800 shares of the company’s stock worth $1,792,000 after buying an additional 14,100 shares during the last quarter. 72.31% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for McCormick & Company, (NYSE:MKC)

McCormick & Company, Incorporated (NYSE:MKC) traded up 0.998% during trading on Friday, reaching $91.605. The company had a trading volume of 459,536 shares. The company has a 50-day moving average price of $91.96 and a 200 day moving average price of $97.18. The stock has a market cap of $11.55 billion, a PE ratio of 25.291 and a beta of 0.47. McCormick & Company, Incorporated has a 52-week low of $78.45 and a 52-week high of $107.84.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This is a boost from McCormick & Company,’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 2.07%. McCormick & Company,’s dividend payout ratio (DPR) is 51.93%.

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MKC has been the subject of a number of research analyst reports. Deutsche Bank AG lowered their target price on McCormick & Company, from $113.00 to $112.00 and set a “buy” rating for the company in a report on Friday, September 23rd. Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research note on Thursday, September 15th. Bank of America initiated coverage on McCormick & Company, in a research report on Tuesday, December 6th. They set a “buy” rating and a $100.00 target price on the stock. Jefferies Group cut their target price on McCormick & Company, from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, November 30th. Finally, Sanford C. Bernstein lowered McCormick & Company, from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $113.00 to $104.00 in a research report on Friday, September 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $99.54.

McCormick & Company, Company Profile

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company operates in two segments: consumer and industrial. Its brands in the Americas include McCormick, Lawry’s, Stubb’s, Club House, Zatarain’s, Thai Kitchen and Simply Asia.

5 Day Chart for NYSE:MKC

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