Argent Trust Co Lowers Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Argent Trust Co cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 1.9% during the first quarter, HoldingsChannel reports. The fund owned 55,188 shares of the company’s stock after selling 1,084 shares during the quarter. Argent Trust Co’s holdings in McCormick & Company, Incorporated were worth $4,920,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. Quilter Plc lifted its stake in shares of McCormick & Company, Incorporated by 48.3% during the 1st quarter. Quilter Plc now owns 25,986 shares of the company’s stock worth $2,317,000 after purchasing an additional 8,463 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of McCormick & Company, Incorporated by 3.5% in the 1st quarter. Panagora Asset Management Inc. now owns 39,211 shares of the company’s stock worth $3,496,000 after purchasing an additional 1,336 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in McCormick & Company, Incorporated during the 1st quarter worth $39,000. Norinchukin Bank The increased its position in McCormick & Company, Incorporated by 21.1% during the 1st quarter. Norinchukin Bank The now owns 588,534 shares of the company’s stock valued at $52,474,000 after buying an additional 102,449 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of McCormick & Company, Incorporated by 68.1% in the 1st quarter. Sei Investments Co. now owns 90,235 shares of the company’s stock valued at $8,372,000 after purchasing an additional 36,565 shares during the last quarter. 74.39% of the stock is owned by hedge funds and other institutional investors.

NYSE MKC traded down $0.41 during trading hours on Friday, reaching $88.33. The company’s stock had a trading volume of 9,704 shares, compared to its average volume of 1,328,055. The stock has a market capitalization of $23.59 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 4.47 and a beta of 0.46. McCormick & Company, Incorporated has a 1-year low of $82.03 and a 1-year high of $105.54. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.81 and a quick ratio of 0.36. The firm has a 50-day moving average price of $89.63.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Monday, March 29th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.37 billion. McCormick & Company, Incorporated had a return on equity of 20.64% and a net margin of 13.02%. During the same quarter in the prior year, the firm posted $0.54 EPS. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 26th. Shareholders of record on Monday, April 12th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, April 9th. This represents a $1.36 annualized dividend and a yield of 1.54%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 48.06%.

Separately, Argus reissued a “hold” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, March 23rd.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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