National Bank of Canada FI Raises Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

National Bank of Canada FI lifted its position in McCormick & Company, Incorporated (NYSE:MKC – Get Rating) by 27.6% during the first quarter, Holdings Channel reports. The institutional investor owned 21,438 shares of the company’s stock after buying an additional 4,634 shares during the quarter. National Bank of Canada FI’s holdings in McCormick & Company, Incorporated were worth $2,215,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Western Pacific Wealth Management LP grew its position in McCormick & Company, Incorporated by 50.0% during the 1st quarter. Western Pacific Wealth Management LP now owns 300 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Confluence Wealth Services Inc. purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $29,000. Riverview Trust Co purchased a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $31,000. Lumature Wealth Partners LLC grew its position in McCormick & Company, Incorporated by 65.3% during the 4th quarter. Lumature Wealth Partners LLC now owns 324 shares of the company’s stock worth $31,000 after purchasing an additional 128 shares during the last quarter. Finally, Missouri Trust & Investment Co purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 74.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. TheStreet downgraded shares of McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a research report on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McCormick & Company, Incorporated from $91.00 to $85.00 and set a “hold” rating for the company in a research note on Thursday, June 30th. Finally, Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus target price of $99.00.

McCormick & Company, Incorporated Stock Performance

MKC opened at $88.33 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.74 and a quick ratio of 0.31. The firm has a fifty day moving average price of $85.60 and a 200 day moving average price of $94.04. McCormick & Company, Incorporated has a 1 year low of $77.85 and a 1 year high of $107.35. The stock has a market cap of $23.70 billion, a P/E ratio of 34.91, a P/E/G ratio of 5.50 and a beta of 0.50.

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last posted its earnings results on Wednesday, June 29th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.17). McCormick & Company, Incorporated had a net margin of 10.78% and a return on equity of 16.48%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.02 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Monday, July 11th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is currently 58.50%.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 10,580 shares of the business’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $84.44, for a total value of $893,375.20. Following the completion of the sale, the director now owns 12,660 shares of the company’s stock, valued at approximately $1,069,010.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 15.90% of the company’s stock.

McCormick & Company, Incorporated Company Profile

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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.