TD Asset Management Inc. decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 517,977 shares of the company’s stock after selling 32,298 shares during the period. TD Asset Management Inc. owned 0.42% of McCormick & Company, worth $50,508,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of MKC. Teachers Advisors LLC raised its stake in shares of McCormick & Company, by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 138,262 shares of the company’s stock valued at $12,904,000 after buying an additional 8,118 shares during the period. Macquarie Group Ltd. raised its stake in McCormick & Company, by 90.0% in the fourth quarter. Macquarie Group Ltd. now owns 5,700 shares of the company’s stock worth $532,000 after buying an additional 2,700 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in McCormick & Company, by 2.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 106,335 shares of the company’s stock worth $10,373,000 after buying an additional 2,126 shares during the period. Raymond James Trust N.A. raised its stake in McCormick & Company, by 0.4% in the first quarter. Raymond James Trust N.A. now owns 4,527 shares of the company’s stock worth $442,000 after buying an additional 16 shares during the period. Finally, Charter Trust Co. bought a new stake in McCormick & Company, during the first quarter worth $202,000. 73.69% of the stock is owned by institutional investors.
Shares of McCormick & Company, Incorporated (MKC) traded down 0.56% during midday trading on Friday, reaching $96.09. The company’s stock had a trading volume of 688,504 shares. The firm has a market capitalization of $11.97 billion, a P/E ratio of 25.52 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 has a 50-day moving average of $95.72 and a 200 day moving average of $99.06.
McCormick & Company, (NYSE:MKC) last announced its earnings results on Thursday, June 29th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 10.69% and a return on equity of 28.28%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. Equities research analysts predict that McCormick & Company, Incorporated will post $4.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Monday, July 10th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Thursday, July 6th. McCormick & Company,’s payout ratio is currently 49.87%.
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A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a report on Thursday, June 1st. Credit Suisse Group set a $108.00 target price on McCormick & Company, and gave the stock a “buy” rating in a report on Saturday, July 1st. Jefferies Group LLC restated a “hold” rating and issued a $95.00 price target on shares of McCormick & Company, in a research note on Thursday, July 27th. BidaskClub downgraded McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) started coverage on McCormick & Company, in a research note on Friday, June 16th. They issued a “neutral” rating and a $101.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. McCormick & Company, has a consensus rating of “Hold” and a consensus 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.
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