Bath Savings Trust Co Trims Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Bath Savings Trust Co cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,942 shares of the company’s stock after selling 259 shares during the quarter. McCormick & Company, Incorporated comprises about 1.3% of Bath Savings Trust Co’s holdings, making the stock its 25th biggest holding. Bath Savings Trust Co owned about 0.06% of McCormick & Company, Incorporated worth $13,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Davis Investment Partners LLC purchased a new stake in McCormick & Company, Incorporated in the third quarter worth about $223,000. Czech National Bank raised its position in shares of McCormick & Company, Incorporated by 7.0% in the 3rd quarter. Czech National Bank now owns 51,338 shares of the company’s stock worth $4,225,000 after acquiring an additional 3,366 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of McCormick & Company, Incorporated by 23.9% in the 3rd quarter. SG Americas Securities LLC now owns 55,598 shares of the company’s stock valued at $4,576,000 after purchasing an additional 10,734 shares during the period. Heritage Wealth Management Inc. purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $227,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $5,298,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MKC. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. TD Cowen increased their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Bank of America boosted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Finally, Stifel Nicolaus lifted their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $79.57.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 1.0 %

Shares of NYSE MKC opened at $79.38 on Tuesday. The firm’s 50 day moving average price is $80.43 and its 200-day moving average price is $75.41. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week 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 company has a market cap of $21.32 billion, a PE ratio of 28.97, a P/E/G 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business 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 firm posted $0.65 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, equities research analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.12%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

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.