McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,173 shares of the company’s stock after selling 130 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in McCormick & Company, Incorporated were worth $920,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in shares of McCormick & Company, Incorporated by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock worth $2,094,000 after acquiring an additional 135 shares in the last quarter. HCR Wealth Advisors boosted its stake in shares of McCormick & Company, Incorporated by 2.6% during the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after acquiring an additional 135 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated by 2.9% during the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after acquiring an additional 141 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 1.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock worth $1,193,000 after acquiring an additional 156 shares in the last quarter. Finally, KFG Wealth Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 1.5% during the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after acquiring an additional 156 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.3 %

McCormick & Company, Incorporated stock traded down $0.28 during trading on Friday, reaching $80.61. The company had a trading volume of 1,841,416 shares, compared to its average volume of 1,954,930. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month 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 stock’s 50 day moving average price is $80.43 and its two-hundred day moving average price is $75.33. The firm has a market capitalization of $21.65 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 4.24 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 EPS. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.08%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MKC shares. Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday. Bank of America upped their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Finally, TD Cowen upped their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $79.57.

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.