McKinley Carter Wealth Services Inc. Takes $1.32 Million Position in McCormick & Company, Incorporated (MKC)

McKinley Carter Wealth Services Inc. acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 12,833 shares of the company’s stock, valued at approximately $1,317,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Canada Pension Plan Investment Board raised its holdings in McCormick & Company, by 49.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 173,510 shares of the company’s stock valued at $17,809,000 after acquiring an additional 57,100 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC raised its holdings in McCormick & Company, by 5.5% in the 3rd quarter. Franklin Parlapiano Turner & Welch LLC now owns 46,320 shares of the company’s stock valued at $4,754,000 after acquiring an additional 2,421 shares in the last quarter. Clarkston Capital Partners LLC raised its holdings in McCormick & Company, by 7.7% in the 3rd quarter. Clarkston Capital Partners LLC now owns 495,119 shares of the company’s stock valued at $50,819,000 after acquiring an additional 35,219 shares in the last quarter. YorkBridge Wealth Partners LLC acquired a new position in McCormick & Company, in the 3rd quarter valued at $174,000. Finally, Copeland Capital Management LLC acquired a new position in McCormick & Company, in the 3rd quarter valued at $2,022,000. 69.98% of the stock is owned by hedge funds and other institutional investors.

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In related news, Director Freeman A. Hrabowski III sold 3,000 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $98.68, for a total value of $296,040.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael R. Smith sold 5,500 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $102.60, for a total value of $564,300.00. Following the completion of the transaction, the vice president now directly owns 19,248 shares in the company, valued at approximately $1,974,844.80. The disclosure for this sale can be found here. Insiders sold 13,500 shares of company stock worth $1,357,840 in the last quarter. 15.30% of the stock is currently owned by company insiders.

Several equities analysts have weighed in on MKC shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $95.00 price objective on shares of McCormick & Company, in a report on Thursday, July 27th. Zacks Investment Research cut McCormick & Company, from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. BidaskClub raised McCormick & Company, from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Credit Suisse Group lifted their price objective on McCormick & Company, from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, September 18th. Finally, Citigroup Inc. lifted their price objective on McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. McCormick & Company, has an average rating of “Buy” and an average target price of $106.00.

McCormick & Company, (NYSE:MKC) last issued its quarterly earnings data on Thursday, September 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.07. McCormick & Company, had a return on equity of 26.09% and a net margin of 10.05%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th were given a $0.47 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.89%. McCormick & Company,’s dividend payout ratio (DPR) is presently 51.93%.

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

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