OLD National Bancorp IN Sells 207 Shares of McCormick & Company, Incorporated (NYSE:MKC)

OLD National Bancorp IN reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,458 shares of the company’s stock after selling 207 shares during the quarter. OLD National Bancorp IN’s holdings in McCormick & Company, Incorporated were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Financial Group LLC bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth $29,000. Anchor Investment Management LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth $36,000. Milestone Investment Advisors LLC bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth $47,000. Private Trust Co. NA raised its holdings in McCormick & Company, Incorporated by 59.1% in the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after purchasing an additional 290 shares in the last quarter. Finally, Valley National Advisers Inc. raised its holdings in McCormick & Company, Incorporated by 283.9% in the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $75.85 on Thursday. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $94.39. The company’s 50-day moving average is $71.22 and its 200 day moving average is $67.69. The company has a market capitalization of $20.36 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 3.85 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the firm posted $0.59 EPS. McCormick & Company, Incorporated’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 64.12%.

Wall Street Analyst Weigh In

MKC has been the subject of several research reports. Citigroup upped their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. decreased their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Tuesday, April 2nd. Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Finally, Stifel Nicolaus upped their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.88.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the transaction, the director now owns 39,181 shares in the company, valued at approximately $2,554,601.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,726 shares of company stock valued at $2,504,728. 22.90% of the stock is 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.