State of Alaska Department of Revenue Purchases 10,415 Shares of McCormick & Company, Incorporated (MKC)

State of Alaska Department of Revenue boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 40.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,101 shares of the company’s stock after purchasing an additional 10,415 shares during the quarter. State of Alaska Department of Revenue’s holdings in McCormick & Company, Incorporated were worth $3,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Zions Bancorporation raised its holdings in McCormick & Company, Incorporated by 5,071.4% during the 3rd quarter. Zions Bancorporation now owns 1,086 shares of the company’s stock worth $111,000 after purchasing an additional 1,065 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in McCormick & Company, Incorporated by 136.6% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 1,500 shares of the company’s stock worth $154,000 after purchasing an additional 866 shares during the last quarter. Dupont Capital Management Corp bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $173,000. YorkBridge Wealth Partners LLC bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $174,000. Finally, Kornitzer Capital Management Inc. KS bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $200,000. 76.13% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated (NYSE MKC) opened at $99.13 on Tuesday. The stock has a market capitalization of $12,993.59, a PE ratio of 27.38, a PEG ratio of 2.24 and a beta of 0.53. McCormick & Company, Incorporated has a 12-month low of $90.25 and a 12-month high of $106.50. The company has a current ratio of 0.95, a quick ratio of 0.47 and a debt-to-equity ratio of 1.86.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.52 per share. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, December 28th. McCormick & Company, Incorporated’s payout ratio is presently 57.46%.

In other news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated 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 directly owns 18,825 shares in the company, valued at approximately $1,873,087.50. The transaction was disclosed in a 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 dated 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 analysts have weighed in on MKC shares. Zacks Investment Research raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a report on Monday, October 2nd. Jefferies Group set a $120.00 target price on McCormick & Company, Incorporated and gave the stock a “buy” rating in a research report on Monday, October 30th. Credit Suisse Group set a $115.00 target price on McCormick & Company, Incorporated and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Stifel Nicolaus restated a “hold” rating and set a $103.00 target price (up from $95.00) on shares of McCormick & Company, Incorporated in a research report on Monday, October 2nd. Finally, Citigroup boosted their target price on McCormick & Company, Incorporated from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $106.22.

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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.

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

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