Argyle Capital Management Inc. continued to hold its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,400 shares of the company’s stock at the end of the second quarter. Argyle Capital Management Inc.’s holdings in McCormick & Company, were worth $429,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. BlackRock Inc. raised its stake in shares of McCormick & Company, by 956.5% in the first quarter. BlackRock Inc. now owns 10,405,413 shares of the company’s stock valued at $1,015,049,000 after buying an additional 9,420,526 shares during the last quarter. Pioneer Investment Management Inc. raised its stake in shares of McCormick & Company, by 630.5% in the first quarter. Pioneer Investment Management Inc. now owns 865,785 shares of the company’s stock valued at $84,457,000 after buying an additional 747,268 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of McCormick & Company, during the first quarter valued at about $72,060,000. Vanguard Group Inc. raised its stake in shares of McCormick & Company, by 3.6% in the first quarter. Vanguard Group Inc. now owns 11,962,754 shares of the company’s stock valued at $1,166,965,000 after buying an additional 420,241 shares during the last quarter. Finally, State Street Corp raised its stake in shares of McCormick & Company, by 5.4% in the first quarter. State Street Corp now owns 7,256,472 shares of the company’s stock valued at $707,872,000 after buying an additional 368,990 shares during the last quarter. Hedge funds and other institutional investors own 73.65% of the company’s stock.
McCormick & Company, Incorporated (NYSE MKC) opened at 95.52 on Friday. McCormick & Company, Incorporated has a 1-year low of $88.64 and a 1-year high of $106.50. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 25.37 and a beta of 0.52. The stock’s 50 day moving average is $98.17 and its 200 day moving average is $98.81.
McCormick & Company, (NYSE:MKC) last announced its earnings results on Thursday, June 29th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.06. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. Analysts predict that McCormick & Company, Incorporated will post $4.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 10th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.88 annualized dividend and a dividend yield of 1.97%. McCormick & Company,’s dividend payout ratio is currently 49.87%.
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Several research analysts have recently weighed in on the stock. Jefferies Group LLC restated a “hold” rating and set a $95.00 price objective on shares of McCormick & Company, in a research note on Thursday. Edward Jones upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Credit Suisse Group set a $108.00 price objective on shares of McCormick & Company, and gave the stock a “buy” rating in a research note on Saturday, July 1st. J P Morgan Chase & Co upgraded shares of McCormick & Company, from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $91.00 to $96.00 in a research note on Wednesday, April 5th. Finally, Zacks Investment Research upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a research note on Monday, June 19th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. McCormick & Company, has an average rating of “Hold” and a consensus target price of $101.78.
In other news, Director Maritza Gomez Montiel bought 2,500 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was bought at an average price of $99.62 per share, for a total transaction of $249,050.00. Following the completion of the acquisition, the director now directly owns 2,500 shares in the company, valued at approximately $249,050. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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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