Gofen & Glossberg LLC IL Grows Position in McCormick & Company, Incorporated (MKC)

Gofen & Glossberg LLC IL increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,332 shares of the company’s stock after purchasing an additional 1,297 shares during the period. Gofen & Glossberg LLC IL owned approximately 0.12% of McCormick & Company, Incorporated worth $16,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MKC. Schroder Investment Management Group lifted its holdings in McCormick & Company, Incorporated by 24.8% during the 2nd quarter. Schroder Investment Management Group now owns 87,063 shares of the company’s stock worth $8,302,000 after purchasing an additional 17,275 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in McCormick & Company, Incorporated by 4.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,046 shares of the company’s stock worth $198,000 after purchasing an additional 80 shares during the last quarter. Capital Fund Management S.A. acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at $215,000. Stephens Inc. AR raised its holdings in McCormick & Company, Incorporated by 22.5% in the 2nd quarter. Stephens Inc. AR now owns 2,645 shares of the company’s stock valued at $258,000 after acquiring an additional 485 shares in the last quarter. Finally, Teachers Advisors LLC raised its holdings in McCormick & Company, Incorporated by 4.1% in the 2nd quarter. Teachers Advisors LLC now owns 147,760 shares of the company’s stock valued at $14,408,000 after acquiring an additional 5,882 shares in the last quarter. 76.19% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated (MKC) opened at $101.01 on Tuesday. The firm has a market capitalization of $13,232.01, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 2.28 and a beta of 0.53. The company has a quick ratio of 0.47, a current ratio of 0.95 and a debt-to-equity ratio of 1.86. McCormick & Company, Incorporated has a fifty-two week low of $90.25 and a fifty-two week high of $106.50.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.06%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. McCormick & Company, Incorporated’s payout ratio is 57.46%.

In other news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $99.50, for a total transaction of $497,500.00. Following the completion of the transaction, the director now owns 18,825 shares of the company’s stock, valued at approximately $1,873,087.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Maritza Gomez Montiel sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $96.26, for a total value of $240,650.00. The disclosure for this sale can be found here. 15.30% of the stock is currently owned by insiders.

Several equities analysts have weighed in on MKC shares. Zacks Investment Research cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Credit Suisse Group lifted their price objective on McCormick & Company, Incorporated from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, September 18th. Jefferies Group set a $120.00 price objective on McCormick & Company, Incorporated and gave the company a “buy” rating in a report on Monday, October 30th. Citigroup lifted their price objective on McCormick & Company, Incorporated from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $103.00 price objective (up from $95.00) on shares of McCormick & Company, Incorporated in a report on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $106.67.

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McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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

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