M&T Bank Corp Grows Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

M&T Bank Corp raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC – Get Rating) by 0.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,854 shares of the company’s stock after purchasing an additional 810 shares during the period. M&T Bank Corp’s holdings in McCormick & Company, Incorporated were worth $7,687,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in McCormick & Company, Incorporated by 1.1% during the third quarter. Vanguard Group Inc. now owns 29,812,081 shares of the company’s stock valued at $2,124,707,000 after purchasing an additional 321,099 shares in the last quarter. State Street Corp raised its position in McCormick & Company, Incorporated by 4.3% during the third quarter. State Street Corp now owns 13,756,198 shares of the company’s stock valued at $980,404,000 after purchasing an additional 564,889 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in McCormick & Company, Incorporated by 27.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,377,729 shares of the company’s stock valued at $240,730,000 after purchasing an additional 737,040 shares in the last quarter. Nordea Investment Management AB raised its position in McCormick & Company, Incorporated by 2.8% during the second quarter. Nordea Investment Management AB now owns 2,440,642 shares of the company’s stock valued at $208,211,000 after purchasing an additional 67,471 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in McCormick & Company, Incorporated by 12.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,297,939 shares of the company’s stock valued at $163,775,000 after purchasing an additional 248,526 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.5 %

NYSE MKC opened at $72.92 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.70 and a quick ratio of 0.30. The stock has a market capitalization of $19.55 billion, a PE ratio of 28.94, a PEG ratio of 3.93 and a beta of 0.56. McCormick & Company, Incorporated has a 1 year low of $70.60 and a 1 year high of $105.19. The business’s 50-day moving average is $76.15 and its 200 day moving average is $78.98.

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last posted its earnings results on Thursday, January 26th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.13). The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.77 billion. McCormick & Company, Incorporated had a return on equity of 14.76% and a net margin of 10.74%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com assumed coverage on McCormick & Company, Incorporated in a research note on Thursday. They set a “hold” rating on the stock. Sanford C. Bernstein raised McCormick & Company, Incorporated from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research note on Friday, January 27th. JPMorgan Chase & Co. reduced their price objective on McCormick & Company, Incorporated from $66.00 to $63.00 and set an “underweight” rating on the stock in a research note on Friday, January 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on McCormick & Company, Incorporated from $83.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday, January 27th. Finally, UBS Group assumed coverage on McCormick & Company, Incorporated in a research note on Friday, March 10th. They set a “sell” rating and a $71.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $81.14.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the sale, the director now directly owns 38,137 shares of the company’s stock, valued at approximately $2,860,275. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 19.00% of the company’s stock.

McCormick & Company, Incorporated Company Profile

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McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.