Huntington National Bank Sells 4,172 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Huntington National Bank cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MKC. International Private Wealth Advisors LLC lifted its holdings in shares of McCormick & Company, Incorporated by 3.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after purchasing an additional 136 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in McCormick & Company, Incorporated by 2.8% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company’s stock worth $382,000 after buying an additional 137 shares during the last quarter. Empower Advisory Group LLC lifted its stake in McCormick & Company, Incorporated by 1.7% during the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after acquiring an additional 138 shares during the period. Hunter Associates Investment Management LLC boosted its holdings in shares of McCormick & Company, Incorporated by 1.2% during the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after acquiring an additional 153 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of McCormick & Company, Incorporated by 1.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company’s stock worth $755,000 after acquiring an additional 154 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $81.34 on Thursday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The stock 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 company’s 50 day moving average is $79.76 and its two-hundred day moving average is $78.81. The company has a current ratio of 0.74, a quick ratio of 0.31 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.21%. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MKC. Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. increased their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, Barclays lowered their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.14.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the business’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 value of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares of the company’s stock, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.80% of the company’s stock.

About McCormick & Company, Incorporated

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.