Trust Co. of Oklahoma Sells 278 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Trust Co. of Oklahoma reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,387 shares of the company’s stock after selling 278 shares during the period. Trust Co. of Oklahoma’s holdings in McCormick & Company, Incorporated were worth $1,796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MKC. State of Alaska Department of Revenue increased its holdings in shares of McCormick & Company, Incorporated by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock worth $2,094,000 after buying an additional 135 shares during the last quarter. KFG Wealth Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 3.1% in the 4th quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock worth $358,000 after buying an additional 158 shares during the last quarter. Beaumont Financial Advisors LLC increased its holdings in shares of McCormick & Company, Incorporated by 4.5% in the 4th quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock worth $252,000 after buying an additional 159 shares during the last quarter. PFG Investments LLC increased its holdings in shares of McCormick & Company, Incorporated by 2.6% in the 4th quarter. PFG Investments LLC now owns 6,981 shares of the company’s stock worth $478,000 after buying an additional 179 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its holdings in shares of McCormick & Company, Incorporated by 3.2% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,205 shares of the company’s stock worth $425,000 after buying an additional 195 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Trading Down 0.7 %

McCormick & Company, Incorporated stock traded down $0.52 during trading hours on Wednesday, hitting $69.72. The company had a trading volume of 1,059,623 shares, compared to its average volume of 1,999,786. The firm has a market cap of $18.71 billion, a P/E ratio of 25.45, a P/E/G ratio of 3.71 and a beta of 0.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $90.45. The company has a 50-day moving average price of $72.00 and a two-hundred day moving average price of $70.20.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company earned $0.60 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, 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 firm also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.68 annualized dividend and a dividend yield of 2.41%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Stifel Nicolaus lifted their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Tuesday, April 2nd. TD Cowen dropped their price target on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Finally, Barclays lifted their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.25.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total value of $5,900,000.00. Following the completion of the sale, the director now owns 199,258 shares in the company, valued at approximately $14,695,277.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the transaction, the director now owns 199,258 shares in the company, valued at approximately $14,695,277.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,458 shares of company stock worth $6,235,714. 22.90% of the stock is currently owned by corporate insiders.

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.