Moody National Bank Trust Division Sells 314 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Posted by Defense World Staff on Mar 21st, 2023

Moody National Bank Trust Division decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC – Get Rating) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,547 shares of the company’s stock after selling 314 shares during the period. Moody National Bank Trust Division’s holdings in McCormick & Company, Incorporated were worth $211,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MKC. Massachusetts Financial Services Co. MA lifted its stake in McCormick & Company, Incorporated by 27.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,377,729 shares of the company’s stock worth $240,730,000 after purchasing an additional 737,040 shares during the period. State Street Corp lifted its stake in McCormick & Company, Incorporated by 4.3% during the third quarter. State Street Corp now owns 13,756,198 shares of the company’s stock worth $980,404,000 after purchasing an additional 564,889 shares during the period. Natixis Advisors L.P. lifted its stake in McCormick & Company, Incorporated by 508.2% during the second quarter. Natixis Advisors L.P. now owns 611,417 shares of the company’s stock worth $50,901,000 after purchasing an additional 510,887 shares during the period. Vanguard Group Inc. lifted its stake in McCormick & Company, Incorporated by 1.6% during the first quarter. Vanguard Group Inc. now owns 28,955,774 shares of the company’s stock worth $2,889,787,000 after purchasing an additional 462,997 shares during the period. Finally, Pictet Asset Management SA lifted its stake in McCormick & Company, Incorporated by 85.5% during the third quarter. Pictet Asset Management SA now owns 977,972 shares of the company’s stock worth $69,700,000 after purchasing an additional 450,767 shares during the period. Institutional investors own 79.15% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $73.28 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.70 and a quick ratio of 0.30. The company has a 50 day moving average price of $75.43 and a 200 day moving average price of $78.69. McCormick & Company, Incorporated has a fifty-two week low of $70.60 and a fifty-two week high of $105.19. The stock has a market capitalization of $19.65 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 4.10 and a beta of 0.56.

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.13). McCormick & Company, Incorporated had a return on equity of 14.76% and a net margin of 10.74%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $0.84 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts forecast that McCormick & Company, Incorporated will post 2.56 EPS for the current year.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Friday, February 17th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the sale, the director now owns 38,137 shares of the company’s stock, valued at approximately $2,860,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 19.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MKC shares. UBS Group began coverage on shares of McCormick & Company, Incorporated in a research note on Friday, March 10th. They set a “sell” rating and a $71.00 price target for the company. JPMorgan Chase & Co. cut their target price on shares of McCormick & Company, Incorporated from $66.00 to $63.00 and set an “underweight” rating for the company in a research note on Friday, January 27th. Deutsche Bank Aktiengesellschaft cut their target price on shares of McCormick & Company, Incorporated from $74.00 to $69.00 in a research note on Monday. StockNews.com began coverage on shares of McCormick & Company, Incorporated in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Sanford C. Bernstein upgraded shares of McCormick & Company, Incorporated from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Friday, January 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $80.43.

About McCormick & Company, Incorporated

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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.

Moody National Bank Trust Division Sells 314 Shares of McCormick & Company, Incorporated (NYSE:MKC)

McCormick & Company, Incorporated Stock Performance

Insider Buying and Selling

Analyst Upgrades and Downgrades

About McCormick & Company, Incorporated

Further Reading

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