US Bancorp DE Has $9.91 Million Stake in McCormick & Company, Incorporated (MKC)

US Bancorp DE increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 97,216 shares of the company’s stock after buying an additional 4,279 shares during the quarter. US Bancorp DE’s holdings in McCormick & Company, Incorporated were worth $9,906,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. First Allied Advisory Services Inc. boosted its stake in McCormick & Company, Incorporated by 2.8% during the 2nd quarter. First Allied Advisory Services Inc. now owns 2,114 shares of the company’s stock valued at $206,000 after acquiring an additional 58 shares during the last quarter. Advisory Services Network LLC boosted its stake in McCormick & Company, Incorporated by 4.5% during the 2nd quarter. Advisory Services Network LLC now owns 2,981 shares of the company’s stock valued at $291,000 after acquiring an additional 128 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in McCormick & Company, Incorporated by 5.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,941 shares of the company’s stock valued at $481,000 after acquiring an additional 264 shares during the last quarter. WINTON GROUP Ltd boosted its stake in McCormick & Company, Incorporated by 1.4% during the 2nd quarter. WINTON GROUP Ltd now owns 23,338 shares of the company’s stock valued at $2,276,000 after acquiring an additional 333 shares during the last quarter. Finally, Courier Capital LLC boosted its stake in McCormick & Company, Incorporated by 1.4% during the 4th quarter. Courier Capital LLC now owns 37,814 shares of the company’s stock valued at $3,854,000 after acquiring an additional 526 shares during the last quarter. Institutional investors and hedge funds own 76.27% of the company’s stock.

McCormick & Company, Incorporated (NYSE MKC) opened at $102.66 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.83 and a quick ratio of 0.42. McCormick & Company, Incorporated has a 52-week low of $90.25 and a 52-week high of $109.67. The stock has a market cap of $13,433.02, a PE ratio of 24.17, a PEG ratio of 2.24 and a beta of 0.61.

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

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a $0.52 dividend. 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 was Thursday, December 28th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 56.22%.

In related news, Director Patricia A. Little sold 6,250 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,683,439.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael R. Smith sold 2,575 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $107.96, for a total transaction of $277,997.00. Following the completion of the sale, the vice president now directly owns 17,312 shares in the company, valued at approximately $1,869,003.52. The disclosure for this sale can be found here. Company insiders own 15.30% of the company’s stock.

A number of research firms have commented on MKC. UBS Group increased their price objective on shares of McCormick & Company, Incorporated from $100.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Zacks Investment Research upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Friday, December 29th. Jefferies Group reiterated a “buy” rating and set a $120.00 price objective on shares of McCormick & Company, Incorporated in a research note on Thursday, January 25th. Deutsche Bank downgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating and reduced their price objective for the company from $103.00 to $98.00 in a research note on Friday, January 19th. Finally, Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $103.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $107.56.

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McCormick & Company, Incorporated Profile

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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