M&T Bank Corp Decreases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

M&T Bank Corp lowered its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 8.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,422 shares of the company's stock after selling 8,296 shares during the period. M&T Bank Corp's holdings in McCormick & Company, Incorporated were worth $6,948,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. HCR Wealth Advisors increased its stake in shares of McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company's stock valued at $381,000 after acquiring an additional 135 shares in the last quarter. Wallington Asset Management LLC grew its holdings in McCormick & Company, Incorporated by 3.4% in the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company's stock worth $340,000 after purchasing an additional 136 shares during the period. Aptus Capital Advisors LLC increased its stake in McCormick & Company, Incorporated by 2.9% in the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company's stock valued at $357,000 after purchasing an additional 141 shares in the last quarter. Aurora Investment Counsel raised its holdings in shares of McCormick & Company, Incorporated by 2.1% during the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company's stock valued at $695,000 after purchasing an additional 172 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of McCormick & Company, Incorporated by 0.9% during the 3rd quarter. UMB Bank n.a. now owns 20,134 shares of the company's stock worth $1,657,000 after purchasing an additional 176 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Down 0.9 %

Shares of MKC traded down $0.73 during trading hours on Monday, reaching $78.13. 1,319,749 shares of the stock traded hands, compared to its average volume of 1,898,390. McCormick & Company, Incorporated has a 52 week low of $63.88 and a 52 week high of $85.49. The company has a market cap of $20.97 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 3.44 and a beta of 0.75. The stock has a fifty day simple moving average of $78.33 and a 200 day simple moving average of $77.13. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business posted $0.65 EPS. The company's revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS 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. Shareholders of record on Monday, December 30th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 2.30%. This is a boost from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. McCormick & Company, Incorporated's payout ratio is currently 61.22%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the sale, the director now owns 28,217 shares of the company's stock, valued at approximately $2,210,237.61. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last quarter. 22.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on MKC shares. BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen upped their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a report on Wednesday, October 2nd. Bank of America lifted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average 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.