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

M&T Bank Corp lowered its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 12.6% during the first quarter, according to the company in its most recent Form 13F filing with the 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 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MKC. Vanguard Group Inc. increased its holdings in McCormick & Company, Incorporated by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock worth $2,419,653,000 after purchasing an additional 303,973 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock worth $458,114,000 after buying an additional 137,679 shares in the last quarter. Northern Trust Corp grew its holdings in shares of McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after buying an additional 531,060 shares in the last quarter. Voya Investment Management LLC raised its position in McCormick & Company, Incorporated by 10.2% in the 4th quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock valued at $269,060,000 after buying an additional 326,041 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in McCormick & Company, Incorporated by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company's stock valued at $245,114,000 after acquiring an additional 190,856 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded down $0.21 during mid-day trading on Friday, reaching $72.23. 773,844 shares of the company's stock were exchanged, compared to its average volume of 2,065,748. McCormick & Company, Incorporated has a one year low of $69.98 and a one year high of $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The business's fifty day simple moving average is $74.18 and its two-hundred day simple moving average is $76.37. The firm has a market capitalization of $19.38 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 3.47 and a beta of 0.68.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.

Insiders Place Their Bets

In related news, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 23.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MKC shares. Citigroup decreased their price target on shares of 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. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, UBS Group started coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.