Berkshire Bank Sells 169 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Berkshire Bank lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,855 shares of the company’s stock after selling 169 shares during the quarter. Berkshire Bank’s holdings in McCormick & Company, Incorporated were worth $424,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in McCormick & Company, Incorporated by 15.9% in the first quarter. American Century Companies Inc. now owns 5,072 shares of the company’s stock valued at $506,000 after acquiring an additional 696 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in McCormick & Company, Incorporated by 28.1% in the first quarter. Vontobel Holding Ltd. now owns 6,448 shares of the company’s stock valued at $627,000 after acquiring an additional 1,415 shares during the last quarter. Sei Investments Co. boosted its stake in McCormick & Company, Incorporated by 1.0% in the first quarter. Sei Investments Co. now owns 108,139 shares of the company’s stock valued at $10,803,000 after acquiring an additional 1,048 shares during the last quarter. Prudential PLC bought a new position in McCormick & Company, Incorporated in the first quarter valued at approximately $543,000. Finally, Sequoia Financial Advisors LLC bought a new position in McCormick & Company, Incorporated in the first quarter valued at approximately $313,000. Institutional investors own 78.15% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $83.63, for a total value of $418,150.00. Following the sale, the director now owns 39,181 shares in the company, valued at approximately $3,276,707.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $83.63, for a total transaction of $418,150.00. Following the sale, the director now directly owns 39,181 shares of the company’s stock, valued at approximately $3,276,707.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffery D. Schwartz sold 3,600 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $87.48, for a total transaction of $314,928.00. Following the sale, the vice president now directly owns 57,174 shares in the company, valued at $5,001,581.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,200 shares of company stock worth $1,416,530. Corporate insiders own 19.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MKC shares. StockNews.com assumed coverage on shares of McCormick & Company, Incorporated in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. raised their target price on McCormick & Company, Incorporated from $66.00 to $71.00 in a report on Thursday, July 6th. TheStreet upgraded McCormick & Company, Incorporated from a “c+” rating to a “b-” rating in a report on Friday, June 23rd. Barclays raised their target price on McCormick & Company, Incorporated from $77.00 to $85.00 in a report on Sunday, July 2nd. Finally, Bank of America raised shares of McCormick & Company, Incorporated from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $100.00 in a research report on Tuesday, June 6th. 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.73.

McCormick & Company, Incorporated Trading Up 0.2 %

MKC opened at $79.93 on Tuesday. The stock has a market capitalization of $21.45 billion, a P/E ratio of 30.86, a P/E/G ratio of 4.00 and a beta of 0.59. McCormick & Company, Incorporated has a 12 month low of $70.60 and a 12 month high of $94.39. The firm’s fifty day simple moving average is $84.72 and its 200 day simple moving average is $84.75. The company has a current ratio of 0.85, a quick ratio of 0.33 and a debt-to-equity ratio of 0.83.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 29th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 10.74% and a return on equity of 14.76%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 EPS. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 2.66 EPS for the current fiscal 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 paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, July 7th. McCormick & Company, Incorporated’s payout ratio is 60.23%.

McCormick & Company, Incorporated Company 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.