Trust Co. of Oklahoma Lowers Position in McCormick & Company, Incorporated (NYSE:MKC)

Trust Co. of Oklahoma decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,884 shares of the company’s stock after selling 345 shares during the period. Trust Co. of Oklahoma’s holdings in McCormick & Company, Incorporated were worth $1,883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cornell Pochily Investment Advisors Inc. purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $326,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 13.9% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,256 shares of the company’s stock valued at $926,000 after acquiring an additional 1,372 shares in the last quarter. McGuire Investment Group LLC purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $214,000. Koshinski Asset Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 18.6% in the third quarter. Koshinski Asset Management Inc. now owns 4,398 shares of the company’s stock valued at $362,000 after acquiring an additional 690 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of McCormick & Company, Incorporated by 23.7% in the third quarter. Exchange Traded Concepts LLC now owns 11,900 shares of the company’s stock valued at $979,000 after acquiring an additional 2,282 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the subject of several recent analyst reports. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. TD Cowen raised their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Bank of America raised their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $79.57.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC traded up $0.27 during midday trading on Tuesday, reaching $81.32. 550,682 shares of the company’s stock were exchanged, compared to its average volume of 1,932,156. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The stock has a market capitalization of $21.84 billion, a PE ratio of 29.58, a P/E/G ratio of 3.66 and a beta of 0.77. The business’s 50-day moving average price is $80.76 and its 200 day moving average price is $75.70. McCormick & Company, Incorporated has a 1-year low of $59.45 and a 1-year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

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.