Oakbrook Investments LLC raised its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 261,965 shares of the company’s stock after buying an additional 1,970 shares during the period. McCormick & Company, accounts for about 1.7% of Oakbrook Investments LLC’s portfolio, making the stock its 18th largest position. Oakbrook Investments LLC’s holdings in McCormick & Company, were worth $25,544,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. FNY Managed Accounts LLC purchased a new position in shares of McCormick & Company, during the first quarter worth $135,000. Harfst & Associates Inc. purchased a new position in shares of McCormick & Company, during the first quarter worth $139,000. Van ECK Associates Corp boosted its position in shares of McCormick & Company, by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,689 shares of the company’s stock worth $165,000 after buying an additional 109 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of McCormick & Company, by 3.4% in the first quarter. Pacer Advisors Inc. now owns 1,995 shares of the company’s stock worth $195,000 after buying an additional 66 shares in the last quarter. Finally, Charter Trust Co. purchased a new position in shares of McCormick & Company, during the first quarter worth $202,000. 73.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McCormick & Company, Incorporated (MKC) traded up 0.83% during midday trading on Friday, hitting $93.25. The stock had a trading volume of 681,807 shares. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $106.50. The company’s 50 day moving average is $100.01 and its 200 day moving average is $98.75. The company has a market cap of $11.62 billion, a PE ratio of 24.77 and a beta of 0.52.
McCormick & Company, (NYSE:MKC) last released its quarterly earnings data on Thursday, June 29th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.76 by $0.06. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. McCormick & Company,’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. On average, analysts anticipate that McCormick & Company, Incorporated will post $4.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, July 10th were issued a dividend of $0.47 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.88 annualized dividend and a yield of 2.03%. McCormick & Company,’s payout ratio is currently 49.87%.
MKC has been the topic of a number of analyst reports. Zacks Investment Research raised McCormick & Company, from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research note on Thursday, June 1st. Credit Suisse Group set a $108.00 price target on McCormick & Company, and gave the stock a “buy” rating in a research note on Saturday, July 1st. BidaskClub cut McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Edward Jones raised McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Finally, Goldman Sachs Group, Inc. (The) initiated 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. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $102.33.
In other news, Director Maritza Gomez Montiel acquired 2,500 shares of McCormick & Company, stock in a transaction on Wednesday, May 3rd. The shares were bought at an average cost of $99.62 per share, for a total transaction of $249,050.00. Following the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $249,050. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.30% of the company’s stock.
McCormick & Company, Company 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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