Park National Corp OH Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Park National Corp OH purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 129,663 shares of the company's stock, valued at approximately $10,673,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in McCormick & Company, Incorporated by 1.0% during the fourth 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 during the period. Geode Capital Management LLC boosted its position in 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 purchasing an additional 137,679 shares during the period. Northern Trust Corp boosted its position in 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 purchasing an additional 531,060 shares during the period. Voya Investment Management LLC boosted its position in shares of McCormick & Company, Incorporated by 10.2% in the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock valued at $269,060,000 after acquiring an additional 326,041 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of McCormick & Company, Incorporated by 6.3% in the fourth 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 during the period. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $0.05 during trading hours on Monday, reaching $72.78. The stock had a trading volume of 557,331 shares, compared to its average volume of 2,036,173. The business's fifty day moving average is $75.52 and its two-hundred day moving average is $77.14. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market cap of $19.52 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 3.76 and a beta of 0.74. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.47%. McCormick & Company, Incorporated's payout ratio is 61.86%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now owns 2,266 shares of the company's stock, valued at $184,497.72. This represents a 54.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,392 shares of company stock worth $4,898,101 over the last three months. 23.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have assigned 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.com, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and an average target price of $83.14.

McCormick & Company, Incorporated 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.