Mathes Company Inc. Has $2.49 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Mathes Company Inc. increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 25,492 shares of the company’s stock after buying an additional 450 shares during the period. Mathes Company Inc.’s holdings in McCormick & Company, were worth $2,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FNY Managed Accounts LLC acquired a new stake in McCormick & Company, during the first quarter valued at approximately $135,000. Harfst & Associates Inc. acquired a new stake in McCormick & Company, during the first quarter valued at approximately $139,000. Van ECK Associates Corp raised its stake in McCormick & Company, by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,689 shares of the company’s stock valued at $165,000 after buying an additional 109 shares in the last quarter. Pacer Advisors Inc. raised its stake in McCormick & Company, by 3.4% in the first quarter. Pacer Advisors Inc. now owns 1,995 shares of the company’s stock valued at $195,000 after buying an additional 66 shares in the last quarter. Finally, Charter Trust Co. acquired a new stake in McCormick & Company, during the first quarter valued at approximately $202,000. Institutional investors and hedge funds own 73.91% of the company’s stock.

Shares of McCormick & Company, Incorporated (NYSE:MKC) traded up 1.92% during midday trading on Friday, hitting $97.03. 1,962,586 shares of the company traded hands. The stock has a market capitalization of $12.09 billion, a P/E ratio of 25.77 and a beta of 0.52. McCormick & Company, Incorporated has a 12-month low of $88.64 and a 12-month high of $106.50. The stock’s 50-day moving average is $95.95 and its 200 day moving average is $99.00.

McCormick & Company, (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 29th. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.06. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, analysts expect that McCormick & Company, Incorporated will post $4.08 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 10th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Thursday, July 6th. McCormick & Company,’s dividend payout ratio is presently 49.87%.

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MKC has been the subject of several recent research reports. Jefferies Group LLC reissued a “hold” rating and set a $95.00 target price on shares of McCormick & Company, in a research note on Friday, May 19th. Zacks Investment Research raised shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research note on Monday, June 19th. Edward Jones raised shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of McCormick & Company, in a research note on Friday, June 16th. They set a “neutral” rating and a $101.00 target price for the company. Finally, Credit Suisse Group set a $108.00 target price on shares of McCormick & Company, and gave the company a “buy” rating in a research note on Saturday, July 1st. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $104.00.

About McCormick & Company,

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.

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

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