Canandaigua National Bank & Trust Co. Sells 2,231 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Canandaigua National Bank & Trust Co. reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 20.0% in the fourth quarter, Holdings Channel reports. The fund owned 8,942 shares of the company’s stock after selling 2,231 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in McCormick & Company, Incorporated were worth $682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MKC. Capital Performance Advisors LLP bought a new position in McCormick & Company, Incorporated during the third quarter valued at $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $39,000. Kennebec Savings Bank bought a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $40,000. Friedenthal Financial purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth about $49,000. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $74.21 on Tuesday. The stock has a market cap of $19.91 billion, a P/E ratio of 25.24, a PEG ratio of 3.44 and a beta of 0.75. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $77.68 and its two-hundred day moving average price is $77.74. McCormick & Company, Incorporated has a twelve month low of $63.88 and a twelve month high of $85.49.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.43%. McCormick & Company, Incorporated’s payout ratio is presently 61.22%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Bank of America boosted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Stifel Nicolaus boosted their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen raised their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus target price of $81.00.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the sale, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 20,000 shares of company stock valued at $1,565,850 in the last quarter. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.