National Bank of Canada FI Has $9 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

National Bank of Canada FI lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,092 shares of the company's stock after selling 10,708 shares during the quarter. National Bank of Canada FI's holdings in McCormick & Company, Incorporated were worth $9,003,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MKC. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $30,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Twin Tree Management LP acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Lee Danner & Bass Inc. bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $37,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $38,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the sale, the director now owns 247,437 shares of the company's stock, valued at $20,242,820.97. This represents a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction that occurred on 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 in the company, valued at $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock worth $6,478,332 in the last 90 days. Company insiders own 23.80% of the company's stock.

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McCormick & Company, Incorporated Stock Down 1.1 %

Shares of NYSE MKC traded down $0.85 during trading hours on Thursday, hitting $75.05. The company had a trading volume of 492,066 shares, compared to its average volume of 1,936,960. The stock has a market capitalization of $20.13 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The firm's 50 day moving average is $79.60 and its 200-day moving average is $78.43. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

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

McCormick & Company, Incorporated Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MKC. Barclays lowered their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. upped their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research report on Friday, January 24th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated Profile

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.