Stock Yards Bank & Trust Co. Has $1.76 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Stock Yards Bank & Trust Co. trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 13.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,765 shares of the company’s stock after selling 3,881 shares during the period. Stock Yards Bank & Trust Co.’s holdings in McCormick & Company, Incorporated were worth $1,763,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. DnB Asset Management AS grew its position in shares of McCormick & Company, Incorporated by 5.6% in the 3rd quarter. DnB Asset Management AS now owns 42,917 shares of the company’s stock valued at $3,246,000 after acquiring an additional 2,264 shares during the period. Avior Wealth Management LLC increased its position in McCormick & Company, Incorporated by 91.9% during the third quarter. Avior Wealth Management LLC now owns 1,182 shares of the company’s stock worth $89,000 after buying an additional 566 shares during the last quarter. Royal Fund Management LLC increased its position in McCormick & Company, Incorporated by 51.3% during the third quarter. Royal Fund Management LLC now owns 6,668 shares of the company’s stock worth $512,000 after buying an additional 2,260 shares during the last quarter. Meridian Wealth Management LLC raised its stake in McCormick & Company, Incorporated by 80.3% in the third quarter. Meridian Wealth Management LLC now owns 16,610 shares of the company’s stock valued at $1,256,000 after buying an additional 7,397 shares during the period. Finally, KFG Wealth Management LLC lifted its position in shares of McCormick & Company, Incorporated by 15.0% in the third quarter. KFG Wealth Management LLC now owns 5,071 shares of the company’s stock valued at $384,000 after buying an additional 661 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the sale, the director now directly owns 5,594 shares in the company, valued at approximately $430,738. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the transaction, the director now directly owns 5,594 shares of the company’s stock, valued at approximately $430,738. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the transaction, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock worth $2,376,400 in the last 90 days. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 1.0 %

MKC stock opened at $74.69 on Tuesday. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39. The company has a market capitalization of $20.05 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.79 and a beta of 0.74. The company’s 50-day simple moving average is $70.80 and its 200 day simple moving average is $67.56. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MKC. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, April 2nd. Barclays lifted their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. dropped their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Finally, Citigroup upped their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $77.88.

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.