McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. trimmed its position in McCormick & Company, Incorporated (NYSE:MKC) by 5.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,229 shares of the company’s stock after selling 1,244 shares during the period. Stock Yards Bank & Trust Co.’s holdings in McCormick & Company, Incorporated were worth $1,829,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after buying an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC grew its holdings in McCormick & Company, Incorporated by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after acquiring an additional 54,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in McCormick & Company, Incorporated by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after acquiring an additional 177,567 shares in the last quarter. Point72 Asset Management L.P. raised its position in McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock worth $127,115,000 after acquiring an additional 568,276 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after acquiring an additional 30,696 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at $2,210,237.61. This represents a 15.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC opened at $81.41 on Friday. The firm has a market capitalization of $21.85 billion, a P/E ratio of 27.69, a PEG ratio of 3.48 and a beta of 0.75. The stock has a fifty day moving average of $78.36 and a 200-day moving average of $76.64. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 12-month low of $63.88 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business earned $0.65 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a dividend of $0.45 per share. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 57.14%.

Wall Street Analysts Forecast Growth

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

McCormick & Company, Incorporated Company 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.