Field & Main Bank Cuts Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Field & Main Bank decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 18.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,340 shares of the company’s stock after selling 770 shares during the quarter. Field & Main Bank’s holdings in McCormick & Company, Incorporated were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Northern Trust Corp grew its stake in shares of McCormick & Company, Incorporated by 2.8% in the third quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock valued at $260,108,000 after buying an additional 93,034 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of McCormick & Company, Incorporated by 2.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,221,637 shares of the company’s stock valued at $168,045,000 after purchasing an additional 46,063 shares during the period. Invesco Ltd. lifted its position in shares of McCormick & Company, Incorporated by 15.4% during the third quarter. Invesco Ltd. now owns 1,828,576 shares of the company’s stock worth $138,313,000 after purchasing an additional 244,211 shares in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at $92,340,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in McCormick & Company, Incorporated by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,317,845 shares of the company’s stock valued at $99,682,000 after purchasing an additional 19,962 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $0.56 during trading on Monday, hitting $76.29. 1,386,203 shares of the company traded hands, compared to its average volume of 2,045,394. 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 fifty day moving average is $71.81 and its 200-day moving average is $68.02. The stock has a market capitalization of $20.48 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 3.88 and a beta of 0.74. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $94.39.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders 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 2.20%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays boosted their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. cut their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Finally, Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $77.88.

Insider Buying and Selling

In other news, Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the transaction, the director now owns 5,594 shares of the company’s stock, valued at $430,738. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other McCormick & Company, Incorporated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now owns 5,594 shares of the company’s stock, valued at approximately $430,738. The disclosure for this sale can be found here. Insiders sold 33,726 shares of company stock valued at $2,504,728 in the last three months. 22.90% of the stock is currently owned by corporate insiders.

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.