Intrust Bank NA Has $225,000 Position in McCormick & Company, Incorporated (NYSE:MKC)

Intrust Bank NA trimmed its position in McCormick & Company, Incorporated (NYSE:MKC) by 46.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,288 shares of the company’s stock after selling 2,872 shares during the quarter. Intrust Bank NA’s holdings in McCormick & Company, Incorporated were worth $225,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MKC. Alecta Tjanstepension Omsesidigt acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at about $92,340,000. Impax Asset Management Group plc lifted its stake in shares of McCormick & Company, Incorporated by 157.2% in the 4th quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock valued at $72,749,000 after acquiring an additional 649,908 shares during the last quarter. Fenimore Asset Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 369.2% during the 4th quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock valued at $47,554,000 after acquiring an additional 546,911 shares in the last quarter. Scopus Asset Management L.P. grew its position in McCormick & Company, Incorporated by 711.3% during the 3rd quarter. Scopus Asset Management L.P. now owns 547,600 shares of the company’s stock worth $41,420,000 after acquiring an additional 480,100 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in McCormick & Company, Incorporated by 183.2% in the 3rd quarter. Acadian Asset Management LLC now owns 641,897 shares of the company’s stock worth $48,535,000 after purchasing an additional 415,269 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Down 2.0 %

MKC opened at $74.55 on Thursday. The company has a fifty day moving average price of $72.11 and a two-hundred day moving average price of $68.18. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $94.39. The company has a market cap of $20.01 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 3.90 and a beta of 0.73. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. Analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.25%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. dropped their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Stifel Nicolaus boosted their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Finally, Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.88.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares in the company, valued at approximately $430,738. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. In the last three months, insiders sold 33,726 shares of company stock valued at $2,504,728. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated 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.