Huntington National Bank Has $5.77 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Huntington National Bank reduced its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,624 shares of the company's stock after selling 4,172 shares during the period. Huntington National Bank's holdings in McCormick & Company, Incorporated were worth $5,766,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of McCormick & Company, Incorporated by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock worth $2,419,653,000 after acquiring an additional 303,973 shares in the last quarter. State Street Corp grew its holdings in shares of McCormick & Company, Incorporated by 7.8% during the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock valued at $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Geode Capital Management LLC increased its position in McCormick & Company, Incorporated by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock worth $458,114,000 after buying an additional 137,679 shares during the period. Norges Bank acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $223,202,000. Finally, Point72 Asset Management L.P. raised its holdings in shares of McCormick & Company, Incorporated by 58.2% during the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock valued at $127,115,000 after buying an additional 568,276 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several equities research analysts recently weighed in on MKC shares. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays dropped their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Jefferies Financial Group upgraded shares of 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of "Hold" and an average target price of $83.14.

McCormick & Company, Incorporated Stock Up 1.3 %

NYSE MKC traded up $0.94 during trading on Tuesday, hitting $74.86. 824,048 shares of the company traded hands, compared to its average volume of 1,916,871. The business has a fifty day simple moving average of $79.84 and a 200 day simple moving average of $78.62. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $20.08 billion, a P/E ratio of 25.57, a PEG ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. The business's quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. McCormick & Company, Incorporated's payout ratio is 61.86%.

Insider Transactions at McCormick & Company, Incorporated

In other news, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now directly owns 2,266 shares of the company's stock, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the sale, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,842 shares of company stock worth $6,478,332. 23.80% of the stock is currently owned by company insiders.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.