Keybank National Association OH Lowers Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Keybank National Association OH lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 129,798 shares of the company's stock after selling 17,236 shares during the quarter. Keybank National Association OH's holdings in McCormick & Company, Incorporated were worth $10,684,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Salem Investment Counselors Inc. raised its position in shares of McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after acquiring an additional 336 shares in the last quarter. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $30,000. Stonebridge Financial Group LLC raised its position in shares of McCormick & Company, Incorporated by 101.0% in the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after acquiring an additional 202 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Finally, Twin Tree Management LP bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Down 1.7%

Shares of NYSE:MKC traded down $1.29 on Friday, hitting $75.28. 1,785,186 shares of the company traded hands, compared to its average volume of 2,056,662. McCormick & Company, Incorporated has a 52 week low of $69.00 and a 52 week high of $86.24. The stock has a 50 day simple moving average of $74.41 and a 200-day simple moving average of $76.52. The company has a market cap of $20.20 billion, a PE ratio of 26.14, a PEG ratio of 3.61 and a beta of 0.68. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the previous year, the firm earned $0.69 EPS. The business's quarterly revenue was up 1.0% on a year-over-year basis. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.39%. McCormick & Company, Incorporated's payout ratio is currently 62.50%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on MKC shares. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. UBS Group began coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective for the company. Citigroup lowered their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, June 17th. Finally, Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus target price of $84.13.

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.