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

M&T Bank Corp lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,386 shares of the company’s stock after selling 1,425 shares during the quarter. M&T Bank Corp’s holdings in McCormick & Company, Incorporated were worth $6,936,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MKC. Anchor Investment Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $36,000. Milestone Investment Advisors LLC acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $47,000. Valley National Advisers Inc. lifted its stake in McCormick & Company, Incorporated by 283.9% in the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after acquiring an additional 582 shares in the last quarter. Private Trust Co. NA lifted its stake in McCormick & Company, Incorporated by 59.1% in the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after acquiring an additional 290 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of McCormick & Company, Incorporated by 72.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after purchasing an additional 461 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Up 0.4 %

Shares of McCormick & Company, Incorporated stock opened at $75.45 on Monday. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $72.40 and its 200-day moving average is $68.42. The stock has a market cap of $20.25 billion, a P/E ratio of 28.80, a P/E/G ratio of 3.87 and a beta of 0.73.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly 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 firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. Equities research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share 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 issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MKC shares. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Stifel Nicolaus lifted their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Barclays upped their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, April 2nd. Finally, Citigroup boosted their target price 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.88.

Insiders Place Their Bets

In other news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the transaction, the director now directly owns 39,181 shares in the company, valued at $2,554,601.20. The disclosure for this sale can be found here. Insiders sold 33,726 shares of company stock worth $2,504,728 over the last three months. Insiders own 22.90% of the company’s stock.

About McCormick & Company, Incorporated

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.