McCormick & Company, Incorporated $MKC Position Lessened by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. decreased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,404 shares of the company’s stock after selling 592 shares during the period. Stock Yards Bank & Trust Co.’s holdings in McCormick & Company, Incorporated were worth $1,623,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MKC. Alyeska Investment Group L.P. lifted its holdings in shares of McCormick & Company, Incorporated by 1,360.5% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock worth $129,647,000 after purchasing an additional 1,467,254 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in McCormick & Company, Incorporated by 28.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after acquiring an additional 920,618 shares in the last quarter. Alecta Tjanstepension Omsesidigt raised its stake in McCormick & Company, Incorporated by 94.7% during the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock valued at $134,795,000 after acquiring an additional 865,500 shares in the last quarter. Nuveen LLC bought a new stake in McCormick & Company, Incorporated during the 1st quarter valued at $55,643,000. Finally, Westfield Capital Management Co. LP bought a new stake in McCormick & Company, Incorporated during the 1st quarter valued at $47,056,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.2%

Shares of MKC stock opened at $68.92 on Friday. McCormick & Company, Incorporated has a 1 year low of $63.66 and a 1 year high of $86.24. The stock has a market cap of $18.50 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 3.42 and a beta of 0.63. The business’s fifty day moving average is $69.02 and its 200-day moving average is $72.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MKC. Jefferies Financial Group cut their target price on McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of McCormick & Company, Incorporated in a research note on Saturday, September 27th. Wall Street Zen downgraded McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. UBS Group cut their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $80.29.

McCormick & Company, Incorporated Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.