M&T Bank Corp Sells 11,715 Shares of McCormick & Company, Incorporated (NYSE:MKC)

M&T Bank Corp lowered its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,403 shares of the company's stock after selling 11,715 shares during the quarter. M&T Bank Corp's holdings in McCormick & Company, Incorporated were worth $6,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Stratos Wealth Partners LTD. boosted its stake in McCormick & Company, Incorporated by 5.7% in the first quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company's stock worth $7,267,000 after buying an additional 4,771 shares in the last quarter. Black Diamond Financial LLC purchased a new stake in McCormick & Company, Incorporated in the first quarter worth approximately $208,000. Pacific Point Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated by 8.7% during the first quarter. Pacific Point Advisors LLC now owns 19,107 shares of the company's stock valued at $1,573,000 after purchasing an additional 1,526 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of McCormick & Company, Incorporated by 2,398.8% during the first quarter. TD Private Client Wealth LLC now owns 4,073 shares of the company's stock valued at $335,000 after purchasing an additional 3,910 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of McCormick & Company, Incorporated by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 621,806 shares of the company's stock valued at $51,181,000 after purchasing an additional 18,820 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Trading Up 0.4%

MKC stock traded up $0.28 on Thursday, reaching $72.49. The company's stock had a trading volume of 1,845,836 shares, compared to its average volume of 2,070,852. The business has a fifty day simple moving average of $74.23 and a two-hundred day simple moving average of $76.41. McCormick & Company, Incorporated has a 12-month low of $69.98 and a 12-month high of $86.24. The firm has a market cap of $19.45 billion, a PE ratio of 25.17, a PEG ratio of 3.51 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. As a group, research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be issued a $0.45 dividend. The ex-dividend date is Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.48%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.50%.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of analyst reports. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Citigroup dropped 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. UBS Group initiated coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective for the company. Finally, Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $84.13.

McCormick & Company, Incorporated Company Profile

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.