M&T Bank Corp Has $6.95 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

M&T Bank Corp trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 8.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,422 shares of the company's stock after selling 8,296 shares during the quarter. M&T Bank Corp's holdings in McCormick & Company, Incorporated were worth $6,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Capital Advisors Ltd. LLC increased its holdings in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company's stock valued at $27,000 after purchasing an additional 175 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $28,000. OFI Invest Asset Management bought a new position in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in McCormick & Company, Incorporated during the second quarter worth approximately $39,000. Institutional investors own 79.74% of the company's stock.

Insiders Place Their Bets

In related news, Director Michael D. Mangan sold 5,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total value of $395,000.00. Following the transaction, the director now directly owns 40,436 shares in the company, valued at approximately $3,194,444. This trade represents a 11.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 20,000 shares of company stock valued at $1,565,850 over the last three months. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Up 0.1 %

Shares of McCormick & Company, Incorporated stock traded up $0.05 on Thursday, hitting $81.41. 1,360,516 shares of the company traded hands, compared to its average volume of 1,898,046. McCormick & Company, Incorporated has a 12-month low of $63.88 and a 12-month high of $85.49. 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 company has a market cap of $21.85 billion, a PE ratio of 27.70, a PEG ratio of 3.31 and a beta of 0.75. The company has a 50-day moving average price of $78.36 and a 200 day moving average price of $76.64.

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

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a $0.45 dividend. The ex-dividend date is Monday, December 30th. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.22%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MKC shares. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $91.00 in a report on Monday. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company 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. BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Finally, TD Cowen boosted their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.