McCormick & Company, Incorporated (MKC) Holdings Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 30.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,644 shares of the company’s stock after purchasing an additional 11,241 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in McCormick & Company, Incorporated were worth $4,855,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Toronto Dominion Bank boosted its stake in McCormick & Company, Incorporated by 24.3% in the 2nd quarter. Toronto Dominion Bank now owns 39,362 shares of the company’s stock worth $3,838,000 after purchasing an additional 7,684 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in McCormick & Company, Incorporated by 81.9% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock worth $167,208,000 after purchasing an additional 733,375 shares during the period. Twin Capital Management Inc. bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth approximately $930,000. Oppenheimer & Co. Inc. boosted its stake in McCormick & Company, Incorporated by 4.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 41,323 shares of the company’s stock worth $4,241,000 after purchasing an additional 1,698 shares during the period. Finally, Bath Savings Trust Co boosted its stake in McCormick & Company, Incorporated by 4.2% in the 4th quarter. Bath Savings Trust Co now owns 92,744 shares of the company’s stock worth $9,452,000 after purchasing an additional 3,740 shares during the period. Institutional investors and hedge funds own 76.27% of the company’s stock.

In related news, VP Michael R. Smith sold 2,575 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $107.96, for a total transaction of $277,997.00. Following the sale, the vice president now owns 17,312 shares in the company, valued at approximately $1,869,003.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia A. Little sold 6,250 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $108.63, for a total value of $678,937.50. Following the sale, the director now owns 15,497 shares in the company, valued at approximately $1,683,439.11. The disclosure for this sale can be found here. 15.30% of the stock is currently owned by corporate insiders.

Several research firms have weighed in on MKC. UBS Group upped their price target on McCormick & Company, Incorporated from $100.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $103.00 to $110.00 and gave the company a “hold” rating in a research report on Friday, January 26th. Deutsche Bank downgraded McCormick & Company, Incorporated from a “hold” rating to a “sell” rating and lowered their target price for the company from $103.00 to $98.00 in a research report on Friday, January 19th. Zacks Investment Research upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Finally, Credit Suisse Group set a $115.00 target price on McCormick & Company, Incorporated and gave the company a “buy” rating in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $107.56.

McCormick & Company, Incorporated (MKC) opened at $102.52 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.42 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $13,433.02, a P/E ratio of 27.75, a PEG ratio of 2.24 and a beta of 0.61. McCormick & Company, Incorporated has a 52-week low of $90.25 and a 52-week high of $109.67.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 25th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.02. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. McCormick & Company, Incorporated had a return on equity of 25.30% and a net margin of 9.88%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 EPS. sell-side analysts predict that McCormick & Company, Incorporated will post 4.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.52 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, December 28th. McCormick & Company, Incorporated’s dividend payout ratio is currently 56.22%.

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About McCormick & Company, Incorporated

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, Incorporated (NYSE:MKC)

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