First Commonwealth Financial Corp PA Buys New Position in McCormick & Company, Incorporated (NYSE:MKC)

First Commonwealth Financial Corp PA bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,800 shares of the company’s stock, valued at approximately $522,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. VisionPoint Advisory Group LLC bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $44,000. Valley National Advisers Inc. boosted its holdings in McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after acquiring an additional 582 shares in the last quarter. Private Trust Co. NA boosted its holdings in McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after acquiring an additional 290 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in McCormick & Company, Incorporated by 16.5% in the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock valued at $73,000 after acquiring an additional 134 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of McCormick & Company, Incorporated by 72.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after buying an additional 461 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total value of $207,386.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total value of $207,386.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence Erik Kurzius sold 80,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total value of $5,900,000.00. Following the completion of the sale, the director now owns 199,258 shares of the company’s stock, valued at $14,695,277.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,732 shares of company stock worth $7,982,386. 22.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MKC shares. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, April 2nd. Barclays upped their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Finally, TD Cowen lowered their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.25.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded up $1.02 during trading hours on Friday, reaching $75.79. The company had a trading volume of 2,630,922 shares, compared to its average volume of 2,001,952. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $90.45. The firm has a market cap of $20.36 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 3.83 and a beta of 0.75. The business’s 50 day moving average price is $70.91 and its 200-day moving average price is $70.67.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Research analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is 61.31%.

About McCormick & Company, Incorporated

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.