McCormick & Company, Incorporated (NYSE:MKC) Position Decreased by KAMES CAPITAL plc

KAMES CAPITAL plc reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,330 shares of the company’s stock after selling 347 shares during the period. KAMES CAPITAL plc’s holdings in McCormick & Company, were worth $1,105,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. DnB Asset Management AS increased its position in McCormick & Company, by 5.0% in the second quarter. DnB Asset Management AS now owns 18,819 shares of the company’s stock valued at $1,835,000 after buying an additional 900 shares in the last quarter. Bath Savings Trust Co increased its position in McCormick & Company, by 6.9% in the second quarter. Bath Savings Trust Co now owns 85,369 shares of the company’s stock valued at $8,324,000 after buying an additional 5,500 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in McCormick & Company, by 5.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 77,106 shares of the company’s stock valued at $7,522,000 after buying an additional 4,326 shares in the last quarter. Parsons Capital Management Inc. RI increased its position in McCormick & Company, by 3.6% in the first quarter. Parsons Capital Management Inc. RI now owns 20,496 shares of the company’s stock valued at $1,999,000 after buying an additional 712 shares in the last quarter. Finally, HM Payson & Co. purchased a new position in McCormick & Company, during the first quarter valued at approximately $253,000. Hedge funds and other institutional investors own 74.64% of the company’s stock.

McCormick & Company, Incorporated (MKC) opened at 95.75 on Monday. The stock’s 50 day moving average price is $102.31 and its 200-day moving average price is $98.43. The company has a market capitalization of $11.93 billion, a P/E ratio of 25.43 and a beta of 0.52. McCormick & Company, Incorporated has a 12 month low of $88.64 and a 12 month high of $107.03.

McCormick & Company, (NYSE:MKC) last issued its earnings results on Thursday, June 29th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.06. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. McCormick & Company,’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. On average, equities research analysts predict that McCormick & Company, Incorporated will post $4.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Monday, July 10th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, July 6th. McCormick & Company,’s dividend payout ratio is presently 49.87%.

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Several research firms have commented on MKC. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Credit Suisse Group set a $108.00 target price on McCormick & Company, and gave the company a “buy” rating in a research report on Saturday, July 1st. BidaskClub downgraded McCormick & Company, from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research downgraded McCormick & Company, from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) began coverage on McCormick & Company, in a research report on Friday, June 16th. They issued a “neutral” rating and a $101.00 target price for the company. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $102.33.

In related news, Director Maritza Gomez Montiel bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was bought at an average cost of $99.62 per share, for a total transaction of $249,050.00. Following the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $249,050. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan D. Wilson sold 207,531 shares of the stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $99.83, for a total value of $20,717,819.73. Following the sale, the director now owns 194,552 shares of the company’s stock, valued at $19,422,126.16. The disclosure for this sale can be found here. Corporate insiders own 15.30% of the company’s stock.

McCormick & Company, Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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

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