Bath Savings Trust Co Has $15.87 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Bath Savings Trust Co cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,973 shares of the company’s stock after selling 2,185 shares during the quarter. McCormick & Company, Incorporated comprises 1.9% of Bath Savings Trust Co’s portfolio, making the stock its 18th biggest holding. Bath Savings Trust Co owned 0.07% of McCormick & Company, Incorporated worth $15,874,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MKC. Pinnacle Bancorp Inc. acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $27,000. Bourgeon Capital Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $29,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $29,000. Compagnie Lombard Odier SCmA acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of McCormick & Company, Incorporated by 177.6% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $37,000 after acquiring an additional 286 shares during the last quarter. 78.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. TD Cowen assumed coverage on McCormick & Company, Incorporated in a report on Wednesday, September 13th. They issued a “market perform” rating and a $87.00 price objective on the stock. StockNews.com assumed coverage on McCormick & Company, Incorporated in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Bank of America raised McCormick & Company, Incorporated from an “underperform” rating to a “buy” rating and upped their price objective for the company from $75.00 to $100.00 in a report on Tuesday, June 6th. JPMorgan Chase & Co. upped their price objective on McCormick & Company, Incorporated from $66.00 to $71.00 in a report on Thursday, July 6th. Finally, Barclays upped their price objective on McCormick & Company, Incorporated from $77.00 to $85.00 in a report on Sunday, July 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.73.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock traded up $0.28 on Monday, hitting $80.07. 294,945 shares of the company’s stock were exchanged, compared to its average volume of 1,388,569. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.33. McCormick & Company, Incorporated has a 12 month low of $70.60 and a 12 month high of $94.39. The stock has a market cap of $21.49 billion, a P/E ratio of 30.71, a price-to-earnings-growth ratio of 4.03 and a beta of 0.59. The company has a 50 day moving average of $84.72 and a 200 day moving average of $84.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 29th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. McCormick & Company, Incorporated had a return on equity of 14.76% and a net margin of 10.74%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the company earned $0.48 EPS. McCormick & Company, Incorporated’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts predict that McCormick & Company, Incorporated will post 2.66 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Monday, July 10th were given a $0.39 dividend. The ex-dividend date was Friday, July 7th. This represents a $1.56 annualized dividend and a yield of 1.95%. McCormick & Company, Incorporated’s dividend payout ratio is presently 60.23%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, VP Jeffery D. Schwartz sold 2,600 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $90.02, for a total value of $234,052.00. Following the completion of the transaction, the vice president now directly owns 60,774 shares in the company, valued at $5,470,875.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other McCormick & Company, Incorporated news, VP Jeffery D. Schwartz sold 2,600 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $90.02, for a total value of $234,052.00. Following the completion of the transaction, the vice president now directly owns 60,774 shares in the company, valued at $5,470,875.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $83.63, for a total value of $418,150.00. Following the completion of the transaction, the director now owns 39,181 shares of the company’s stock, valued at $3,276,707.03. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,200 shares of company stock worth $1,416,530. 19.00% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Profile

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.