Bbva Compass Bancshares Inc. Lowers Stake in McCormick & Co. (MKC)

Bbva Compass Bancshares Inc. lowered its stake in McCormick & Co. (NYSE:MKC) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,699 shares of the company’s stock after selling 362 shares during the period. Bbva Compass Bancshares Inc.’s holdings in McCormick & Co. were worth $1,141,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its stake in shares of McCormick & Co. by 151.2% in the second quarter. Meeder Asset Management Inc. now owns 1,575 shares of the company’s stock valued at $169,000 after buying an additional 948 shares during the period. Ferguson Wellman Capital Management Inc. bought a new stake in shares of McCormick & Co. during the second quarter valued at about $207,000. Sigma Planning Corp bought a new stake in shares of McCormick & Co. during the second quarter valued at about $211,000. Community Trust & Investment Co. bought a new stake in shares of McCormick & Co. during the second quarter valued at about $213,000. Finally, Train Babcock Advisors LLC bought a new stake in shares of McCormick & Co. during the second quarter valued at about $213,000. Institutional investors and hedge funds own 72.46% of the company’s stock.

Institutional Ownership by Quarter for McCormick & Co. (NYSE:MKC)

Shares of McCormick & Co. (NYSE:MKC) traded down 0.53% during trading on Wednesday, hitting $94.35. The stock had a trading volume of 413,852 shares. McCormick & Co. has a 12 month low of $78.45 and a 12 month high of $107.84. The company has a market cap of $11.89 billion, a PE ratio of 26.05 and a beta of 0.47. The stock has a 50 day moving average of $97.29 and a 200 day moving average of $99.10.

McCormick & Co. (NYSE:MKC) last released its 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 had revenue of $1.09 billion for the quarter. McCormick & Co. had a return on equity of 27.26% and a net margin of 10.58%. McCormick & Co.’s revenue for the quarter 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 forecast that McCormick & Co. will post $3.79 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Tuesday, October 11th will be given a $0.43 dividend. The ex-dividend date is Thursday, October 6th. This represents a $1.72 annualized dividend and a dividend yield of 1.81%. McCormick & Co.’s payout ratio is 47.51%.

Several research analysts have weighed in on the company. Zacks Investment Research cut McCormick & Co. from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Deutsche Bank AG reissued a “hold” rating and issued a $110.00 price objective (up previously from $105.00) on shares of McCormick & Co. in a research report on Friday, June 24th. Citigroup Inc. reissued a “neutral” rating on shares of McCormick & Co. in a research report on Tuesday, July 5th. Jefferies Group cut their price objective on McCormick & Co. from $100.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, October 12th. Finally, Sanford C. Bernstein cut McCormick & Co. from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $113.00 to $104.00 in a research report on Friday, September 16th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. McCormick & Co. presently has a consensus rating of “Hold” and a consensus price target of $98.99.

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

About McCormick & Co.

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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