Huntington National Bank Lowers Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Huntington National Bank lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,796 shares of the company’s stock after selling 5,119 shares during the period. Huntington National Bank’s holdings in McCormick & Company, Incorporated were worth $6,567,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in McCormick & Company, Incorporated by 57.6% during the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after buying an additional 14,652 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in McCormick & Company, Incorporated by 24.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $485,000 after purchasing an additional 1,144 shares in the last quarter. Community Bank & Trust Waco Texas acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth approximately $214,000. Haverford Trust Co increased its position in shares of McCormick & Company, Incorporated by 0.4% in the 3rd quarter. Haverford Trust Co now owns 361,146 shares of the company’s stock worth $29,722,000 after purchasing an additional 1,316 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in McCormick & Company, Incorporated in the third quarter valued at about $263,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 1.2 %

MKC stock opened at $74.92 on Friday. 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 firm has a market capitalization of $20.11 billion, a P/E ratio of 25.48, a P/E/G ratio of 3.46 and a beta of 0.77. McCormick & Company, Incorporated has a 52-week low of $63.67 and a 52-week high of $85.49. The company’s 50 day simple moving average is $80.64 and its 200-day simple moving average is $76.24.

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, beating the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The company’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.24%. McCormick & Company, Incorporated’s payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.00, for a total value of $395,000.00. Following the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at $3,194,444. This represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 in the last 90 days. 22.90% of the stock is currently owned by corporate 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.