Huntington National Bank Has $6.57 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Huntington National Bank decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 6.0% during the third quarter, HoldingsChannel reports. The firm owned 79,796 shares of the company’s stock after selling 5,119 shares during the quarter. Huntington National Bank’s holdings in McCormick & Company, Incorporated were worth $6,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of McCormick & Company, Incorporated by 2.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after buying an additional 7,898 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in McCormick & Company, Incorporated during the 3rd quarter valued at $20,227,000. Cetera Investment Advisers boosted its holdings in McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after purchasing an additional 31,306 shares during the period. Sei Investments Co. grew its position in McCormick & Company, Incorporated by 11.8% in the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock worth $11,951,000 after purchasing an additional 16,420 shares during the last quarter. Finally, Boston Trust Walden Corp increased its holdings in shares of McCormick & Company, Incorporated by 1.1% during the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after purchasing an additional 6,588 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 1.2 %

MKC stock opened at $74.92 on Friday. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $80.64 and its 200-day moving average is $76.24. The firm has a market cap of $20.11 billion, a P/E ratio of 25.48, a P/E/G ratio of 3.46 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. Equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 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, October 21st. Investors of record on Monday, October 7th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 57.14%.

Insider Buying and Selling

In related news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at $3,174,226. This represents a 11.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last quarter. 22.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MKC has been the subject of several research reports. Bank of America increased their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen raised their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus target price of $79.57.

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.