Commerce Bank Decreases Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Commerce Bank lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 36.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,497 shares of the company's stock after selling 5,961 shares during the quarter. Commerce Bank's holdings in McCormick & Company, Incorporated were worth $800,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MKC. Curio Wealth LLC bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $30,000. Twin Tree Management LP purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Albion Financial Group UT purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Lee Danner & Bass Inc. bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $37,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $38,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Price Performance

NYSE MKC traded down $0.13 during trading hours on Monday, hitting $74.41. The company had a trading volume of 304,353 shares, compared to its average volume of 1,953,448. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The firm has a market capitalization of $19.96 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The firm has a 50 day simple moving average of $79.18 and a 200 day simple moving average of $77.88.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.42%. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the sale, the vice president now directly 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. In the last 90 days, insiders sold 80,842 shares of company stock worth $6,478,332. 23.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research report on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $83.14.

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.