The McCormick & Co. (MKC) Stake Held by Moody National Bank Trust Division

The McCormick & Co. (MKC) Stake Held by Moody National Bank Trust Division

Moody National Bank Trust Division maintained its stake in shares of McCormick & Co. (NYSE:MKC) during the second quarter, Holdings Channel reports. The fund owned 7,228 shares of the company’s stock at the end of the second quarter. Moody National Bank Trust Division’s holdings in McCormick & Co. were worth $771,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MKC. HM Capital Management LLC increased its stake in shares of McCormick & Co. by 0.5% in the second quarter. HM Capital Management LLC now owns 3,641 shares of the company’s stock worth $388,000 after buying an additional 17 shares during the last quarter. Citizens Financial Group Inc RI boosted its position in McCormick & Co. by 1.9% in the first quarter. Citizens Financial Group Inc RI now owns 2,719 shares of the company’s stock worth $270,000 after buying an additional 50 shares during the last quarter. Albert D Mason Inc. boosted its position in McCormick & Co. by 0.7% in the second quarter. Albert D Mason Inc. now owns 28,720 shares of the company’s stock worth $3,064,000 after buying an additional 191 shares during the last quarter. World Asset Management Inc boosted its position in McCormick & Co. by 1.2% in the second quarter. World Asset Management Inc now owns 18,702 shares of the company’s stock worth $1,995,000 after buying an additional 222 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in McCormick & Co. by 2.0% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,211 shares of the company’s stock worth $1,836,000 after buying an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 72.46% of the company’s stock.

Shares of McCormick & Co. (NYSE:MKC) traded up 0.92% during trading on Friday, hitting $95.40. The company’s stock had a trading volume of 520,837 shares. McCormick & Co. has a one year low of $78.45 and a one year high of $107.84. The stock has a market cap of $12.03 billion, a PE ratio of 26.34 and a beta of 0.47. The company has a 50-day moving average price of $95.93 and a 200-day moving average price of $98.82.

McCormick & Co. (NYSE:MKC) last issued its quarterly earnings results on Friday, September 30th. The company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.09. The company earned $1.09 billion during the quarter. McCormick & Co. had a return on equity of 27.26% and a net margin of 10.58%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. Equities analysts predict that McCormick & Co. will post $3.79 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Tuesday, October 11th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $1.72 annualized dividend and a yield of 1.80%. McCormick & Co.’s dividend payout ratio (DPR) is presently 47.51%.

A number of research firms recently weighed in on MKC. Credit Suisse Group AG raised McCormick & Co. from a “neutral” rating to an “outperform” rating and set a $111.00 price target for the company in a report on Tuesday, October 25th. Jefferies Group reduced their price target on McCormick & Co. from $100.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, October 12th. Deutsche Bank AG reduced their price target on McCormick & Co. from $113.00 to $112.00 and set a “buy” rating for the company in a report on Friday, September 23rd. Sanford C. Bernstein cut McCormick & Co. from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $113.00 to $104.00 in a report on Friday, September 16th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised McCormick & Co. from a “hold” rating to a “buy” rating and set a $109.00 price target for the company in a report on Thursday, September 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $100.99.

In other McCormick & Co. news, Director Freeman A. Hrabowski III sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $94.15, for a total value of $188,300.00. Following the completion of the transaction, the director now directly owns 38,442 shares in the company, valued at approximately $3,619,314.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.70% of the stock is owned by company insiders.

McCormick & Co. Company Profile

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company operates in two segments: consumer and industrial. Its brands in the Americas include McCormick, Lawry’s, Stubb’s, Club House, Zatarain’s, Thai Kitchen and Simply Asia.

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