Stock Yards Bank & Trust Co. Has $1.76 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Stock Yards Bank & Trust Co. reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 13.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,765 shares of the company’s stock after selling 3,881 shares during the period. Stock Yards Bank & Trust Co.’s holdings in McCormick & Company, Incorporated were worth $1,763,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. North Star Asset Management Inc. bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $317,000. MCF Advisors LLC grew its holdings in McCormick & Company, Incorporated by 29.2% in the 4th quarter. MCF Advisors LLC now owns 2,086 shares of the company’s stock valued at $143,000 after buying an additional 471 shares during the last quarter. Handelsbanken Fonder AB increased its position in McCormick & Company, Incorporated by 25.3% in the 4th quarter. Handelsbanken Fonder AB now owns 156,987 shares of the company’s stock worth $10,741,000 after buying an additional 31,691 shares during the period. abrdn plc increased its position in McCormick & Company, Incorporated by 19.1% in the 4th quarter. abrdn plc now owns 443,332 shares of the company’s stock worth $30,333,000 after buying an additional 71,133 shares during the period. Finally, Hunter Associates Investment Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $649,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Up 1.0 %

NYSE MKC opened at $74.69 on Tuesday. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $94.39. The company has a market capitalization of $20.05 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 3.79 and a beta of 0.74. The stock’s 50 day moving average is $70.80 and its two-hundred day moving average is $67.56. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the firm earned $0.59 EPS. McCormick & Company, Incorporated’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

Wall Street Analyst Weigh In

MKC has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Barclays increased their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, April 2nd. Finally, Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus target price of $77.88.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the sale, the director now owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the sale, the director now directly owns 39,181 shares of the company’s stock, valued at approximately $2,554,601.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maritza Gomez Montiel sold 7,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the transaction, the director now directly owns 5,594 shares in the company, valued at approximately $430,738. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock valued at $2,376,400 in the last ninety days. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.