Commerce Bank Has $1.35 Million Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Commerce Bank decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,458 shares of the company’s stock after selling 664 shares during the period. Commerce Bank’s holdings in McCormick & Company, Incorporated were worth $1,354,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. HCR Wealth Advisors boosted its holdings in McCormick & Company, Incorporated by 2.6% during the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after purchasing an additional 135 shares during the last quarter. Wallington Asset Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 3.4% in the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after acquiring an additional 136 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of McCormick & Company, Incorporated by 2.9% during the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after acquiring an additional 141 shares during the last quarter. KFG Wealth Management LLC lifted its holdings in McCormick & Company, Incorporated by 1.5% during the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock worth $740,000 after acquiring an additional 156 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its position in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MKC has been the topic of a number of recent analyst reports. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Bank of America lifted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen increased their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $79.57.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $78.50, for a total value of $392,500.00. Following the sale, the director now directly owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. The trade was a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 in the last three months. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 0.5 %

Shares of MKC opened at $77.58 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $79.62 and a two-hundred day simple moving average of $76.26. The stock has a market capitalization of $20.82 billion, a P/E ratio of 26.39, a PEG ratio of 3.56 and a beta of 0.77. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the business posted $0.65 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, research analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.32%. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

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.