Huntington National Bank Cuts Position in McCormick & Company, Incorporated (NYSE:MKC)

Huntington National Bank decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,624 shares of the company’s stock after selling 4,172 shares during the quarter. Huntington National Bank’s holdings in McCormick & Company, Incorporated were worth $5,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

MKC has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Barclays lowered their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have assigned 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.com, the company has an average rating of “Hold” and an average price target of $83.14.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $81.34 on Thursday. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The firm has a market cap of $21.81 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 3.76 and a beta of 0.71. The business’s fifty day simple moving average is $79.76 and its two-hundred day simple moving average is $78.81. 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) last announced its quarterly earnings data 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 company had revenue of $1.61 billion for 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 company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. Analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

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 dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.21%. McCormick & Company, Incorporated’s payout ratio is currently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 directly owns 247,437 shares of the company’s stock, valued at $20,242,820.97. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. 23.80% of the stock is currently owned by corporate insiders.

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.