PFW Advisors LLC Acquires Shares in McCormick & Company, Incorporated

PFW Advisors LLC recently acquired a new position in McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, as reported in their latest filing with the Securities and Exchange Commission. The firm purchased 10,893 shares of the company's stock, which is valued at approximately $830,000.

Several other institutional investors have also made adjustments to their holdings in McCormick. For instance, Capital Performance Advisors LLP invested in the company during the third quarter with a new stake valued around $28,000. Similarly, Kennebec Savings Bank and Strategic Investment Solutions Inc. IL bought new stakes worth approximately $40,000 and $39,000, respectively, during the same period. Additionally, Friedenthal Financial and Sanctuary Wealth Management L.L.C. made purchases in the third quarter valued at $49,000 and $50,000, respectively. Institutional investors currently own about 79.74% of McCormick's stock.

Stock Performance Overview

On Monday, McCormick's shares traded down by $0.18, reaching a price of $71.21. The trading volume was reported at 3,305,262 shares, which is significantly higher than the average volume of 1,821,485 shares. The stock's 50-day simple moving average stands at $77.33, while the 200-day simple moving average is at $77.89. The company's market capitalization is approximately $19.11 billion, with a price-to-earnings (P/E) ratio of 24.22 and a beta of 0.75. Over the past year, McCormick's stock has experienced a low of $63.88 and a high of $85.49.

Dividend Increase Announcement

McCormick & Company also announced an increase in their quarterly dividend. A payment will be made on Monday, January 13th, to stockholders who are on record as of December 30th. This dividend will be $0.45 per share, marking an annualized dividend of $1.80 and a yield of 2.53%. The increase is notable, as it surpasses the previous quarterly dividend of $0.42. Currently, the company's dividend payout ratio (DPR) is 61.22%.

Analysts' Price Targets and Ratings

Various research analysts have weighed in on McCormick's stock. For example, BNP Paribas upgraded McCormick to a "strong-buy" rating in a note from October 2nd. TD Cowen also raised their rating from "hold" to "buy," setting a new target price of $90.00. Other analysts, such as Stifel Nicolaus and Jefferies Financial Group, have also issued new price targets and ratings for McCormick's shares. The general consensus among analysts is a "Moderate Buy" rating for the stock.

Insider Activity Details

In insider trading news, Director Jacques Tapiero sold 5,000 shares of McCormick's stock on November 4th at an average price of $78.33, amounting to $391,650. Following this sale, he holds 28,217 shares valued at approximately $2.21 million. Overall, insiders have sold a total of 20,000 shares valued at about $1.57 million over the past ninety days, and corporate insiders own around 22.90% of the company’s shares.

Company Overview

McCormick & Company, Incorporated is well-known for manufacturing, marketing, and distributing various spices, seasoning mixes, condiments, and other flavorful products primarily aimed at the food industry. The company operates in two segments: Consumer and Flavor Solutions. The Consumer segment offers an array of spices, herbs, seasonings, condiments, sauces, and even desserts.

investment, shares, acquisition