Hancock Whitney Corp Decreases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Hancock Whitney Corp cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,248 shares of the company’s stock after selling 132 shares during the quarter. Hancock Whitney Corp’s holdings in McCormick & Company, Incorporated were worth $940,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MKC. Vanguard Group Inc. grew its stake in McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of McCormick & Company, Incorporated by 4.4% during the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock worth $246,646,000 after purchasing an additional 136,080 shares during the period. ProShare Advisors LLC boosted its position in McCormick & Company, Incorporated by 2.4% in the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock valued at $201,442,000 after buying an additional 60,512 shares during the last quarter. Nuance Investments LLC boosted its position in McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock valued at $74,644,000 after buying an additional 99,741 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in McCormick & Company, Incorporated by 6.1% in the 4th quarter. First Trust Advisors LP now owns 1,004,628 shares of the company’s stock worth $68,737,000 after buying an additional 57,839 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.4 %

MKC stock opened at $82.99 on Monday. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The firm’s fifty day moving average is $78.70 and its 200 day moving average is $74.43. The firm has a market cap of $22.29 billion, a PE ratio of 30.29, a P/E/G ratio of 4.26 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, research analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America lifted their price objective on shares of McCormick & Company, Incorporated from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. TD Cowen decreased their target price on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price target for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $76.14.

About McCormick & Company, Incorporated

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.