McCormick & Company, Incorporated (MKC) Position Decreased by Moody National Bank Trust Division

Moody National Bank Trust Division lessened its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 16.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,003 shares of the company’s stock after selling 1,225 shares during the quarter. Moody National Bank Trust Division’s holdings in McCormick & Company, Incorporated were worth $612,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital Fund Management S.A. purchased a new position in McCormick & Company, Incorporated during the second quarter worth about $215,000. Stephens Inc. AR increased its position in shares of McCormick & Company, Incorporated by 22.5% during the second quarter. Stephens Inc. AR now owns 2,645 shares of the company’s stock valued at $258,000 after acquiring an additional 485 shares during the last quarter. Teachers Advisors LLC increased its position in shares of McCormick & Company, Incorporated by 4.1% during the second quarter. Teachers Advisors LLC now owns 147,760 shares of the company’s stock valued at $14,408,000 after acquiring an additional 5,882 shares during the last quarter. Amalgamated Bank increased its position in shares of McCormick & Company, Incorporated by 52.5% during the second quarter. Amalgamated Bank now owns 13,322 shares of the company’s stock valued at $1,299,000 after acquiring an additional 4,586 shares during the last quarter. Finally, BlueMountain Capital Management LLC increased its position in shares of McCormick & Company, Incorporated by 1,600.0% during the second quarter. BlueMountain Capital Management LLC now owns 1,717 shares of the company’s stock valued at $167,000 after acquiring an additional 1,616 shares during the last quarter. Institutional investors own 76.27% of the company’s stock.

In other news, Director Patricia A. Little sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $108.63, for a total transaction of $678,937.50. Following the completion of the sale, the director now owns 15,497 shares of the company’s stock, valued at $1,683,439.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael R. Smith sold 2,575 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $107.96, for a total transaction of $277,997.00. Following the sale, the vice president now directly owns 17,312 shares of the company’s stock, valued at approximately $1,869,003.52. The disclosure for this sale can be found here. Company insiders own 15.30% of the company’s stock.

MKC has been the subject of a number of research reports. Zacks Investment Research cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Deutsche Bank cut shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating and lowered their price target for the stock from $103.00 to $98.00 in a report on Friday, January 19th. Credit Suisse Group set a $115.00 price objective on shares of McCormick & Company, Incorporated and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Jefferies Group set a $120.00 price objective on shares of McCormick & Company, Incorporated and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, UBS Group boosted their price objective on shares of McCormick & Company, Incorporated from $100.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $107.56.

McCormick & Company, Incorporated (MKC) traded up $0.48 during trading hours on Friday, reaching $101.84. 1,063,026 shares of the company’s stock were exchanged, compared to its average volume of 1,180,000. The stock has a market cap of $13,380.00, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 2.25 and a beta of 0.61. McCormick & Company, Incorporated has a 52 week low of $90.25 and a 52 week high of $109.67. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.42 and a current ratio of 0.83.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, January 25th. The company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.02. McCormick & Company, Incorporated had a net margin of 9.88% and a return on equity of 25.30%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm posted $1.27 EPS. The company’s revenue was up 21.5% on a year-over-year basis. equities analysts predict that McCormick & Company, Incorporated will post 4.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a $0.52 dividend. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. The ex-dividend date was Thursday, December 28th. This represents a $2.08 annualized dividend and a yield of 2.04%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 56.06%.

ILLEGAL ACTIVITY WARNING: “McCormick & Company, Incorporated (MKC) Position Decreased by Moody National Bank Trust Division” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://ledgergazette.com/2018/02/10/moody-national-bank-trust-division-sells-1225-shares-of-mccormick-company-incorporated-mkc.html.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply