Macquarie Group Ltd. Has $190,000 Stake in McCormick & Company, Incorporated (MKC)

Macquarie Group Ltd. held its position in McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,955 shares of the company’s stock at the end of the 2nd quarter. Macquarie Group Ltd.’s holdings in McCormick & Company, were worth $190,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Swiss National Bank increased its holdings in McCormick & Company, by 1.2% during the 2nd quarter. Swiss National Bank now owns 913,348 shares of the company’s stock valued at $89,061,000 after purchasing an additional 10,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in McCormick & Company, by 15.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,241 shares of the company’s stock valued at $2,949,000 after purchasing an additional 4,044 shares in the last quarter. Mcdaniel Terry & Co. increased its holdings in McCormick & Company, by 38.6% during the 2nd quarter. Mcdaniel Terry & Co. now owns 106,573 shares of the company’s stock valued at $10,392,000 after purchasing an additional 29,656 shares in the last quarter. US Bancorp DE increased its holdings in McCormick & Company, by 1.1% during the 2nd quarter. US Bancorp DE now owns 67,180 shares of the company’s stock valued at $6,550,000 after purchasing an additional 723 shares in the last quarter. Finally, Horizon Investments LLC acquired a new stake in McCormick & Company, during the 2nd quarter valued at $524,000. 69.98% of the stock is owned by hedge funds and other institutional investors.

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Several research firms have recently commented on MKC. Jefferies Group LLC set a $115.00 target price on McCormick & Company, and gave the company a “buy” rating in a research note on Saturday, October 7th. Zacks Investment Research raised 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, October 2nd. Credit Suisse Group reissued a “buy” rating and issued a $115.00 target price (up from $112.00) on shares of McCormick & Company, in a research note on Friday, September 29th. Stifel Nicolaus reissued a “hold” rating and issued a $103.00 target price (up from $95.00) on shares of McCormick & Company, in a research note on Monday, October 2nd. Finally, Citigroup Inc. lifted their target price on McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $106.00.

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

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.88 dividend on an annualized basis and a yield of 1.92%. McCormick & Company,’s payout ratio is 51.93%.

In related news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $99.50, for a total value of $497,500.00. Following the completion of the sale, the director now directly owns 18,825 shares in the company, valued at $1,873,087.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the vice president now owns 19,248 shares of the company’s stock, valued at $1,974,844.80. The disclosure for this sale can be found here. Insiders sold 13,500 shares of company stock valued at $1,357,840 over the last 90 days. 15.30% of the stock is currently owned by company insiders.

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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