Massachusetts Financial Services Co. MA Sells 783,858 Shares of McCormick & Company, Incorporated $MKC

Massachusetts Financial Services Co. MA lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 23.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,500,148 shares of the company’s stock after selling 783,858 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.93% of McCormick & Company, Incorporated worth $167,285,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its holdings in McCormick & Company, Incorporated by 4.8% in the second quarter. SBI Securities Co. Ltd. now owns 3,239 shares of the company’s stock worth $246,000 after purchasing an additional 148 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of McCormick & Company, Incorporated by 13.2% during the 2nd quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock valued at $115,000 after buying an additional 173 shares during the period. Nicholson Wealth Management Group LLC boosted its stake in shares of McCormick & Company, Incorporated by 1.0% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 19,127 shares of the company’s stock worth $1,450,000 after buying an additional 181 shares during the last quarter. Modern Wealth Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 5.9% in the second quarter. Modern Wealth Management LLC now owns 3,258 shares of the company’s stock worth $247,000 after acquiring an additional 181 shares during the period. Finally, Nordea Investment Management AB increased its position in McCormick & Company, Incorporated by 0.7% during the second quarter. Nordea Investment Management AB now owns 26,900 shares of the company’s stock valued at $2,044,000 after acquiring an additional 190 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Transactions at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $67.43, for a total transaction of $3,371,500.00. Following the sale, the insider owned 246,762 shares of the company’s stock, valued at approximately $16,639,161.66. This trade represents a 16.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the transaction, the chief executive officer directly owned 108,652 shares in the company, valued at approximately $7,123,225.12. This represents a 34.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 146,158 shares of company stock worth $9,635,824. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $67.00 on Tuesday. The stock has a market cap of $17.98 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 4.02 and a beta of 0.62. McCormick & Company, Incorporated has a 1 year low of $62.64 and a 1 year high of $86.24. The firm has a fifty day moving average price of $66.86 and a 200-day moving average price of $68.03. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, December 29th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 66.44%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MKC shares. Deutsche Bank Aktiengesellschaft raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Monday, December 15th. Jefferies Financial Group raised their price objective on shares of McCormick & Company, Incorporated from $78.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. JPMorgan Chase & Co. reduced their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Barclays cut their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $76.63.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.