Hamlin Capital Management LLC held its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,700 shares of the company’s stock at the end of the second quarter. Hamlin Capital Management LLC’s holdings in McCormick & Company, were worth $263,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. FNY Managed Accounts LLC bought a new stake in shares of McCormick & Company, during the first quarter valued at $135,000. Harfst & Associates Inc. bought a new stake in shares of McCormick & Company, during the first quarter valued at $139,000. Van ECK Associates Corp boosted its stake 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 valued at $165,000 after buying an additional 109 shares in the last quarter. Pacer Advisors Inc. boosted its stake 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 valued at $195,000 after buying an additional 66 shares in the last quarter. Finally, Charter Trust Co. bought a new stake in shares of McCormick & Company, during the first quarter valued at $202,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.
Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at 95.63 on Thursday. The firm has a 50-day moving average price of $97.65 and a 200 day moving average price of $99.00. McCormick & Company, Incorporated has a 52 week low of $88.64 and a 52 week high of $106.50. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 25.40 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.06. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. On average, analysts forecast that McCormick & Company, Incorporated will post $4.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, July 10th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Thursday, July 6th. McCormick & Company,’s payout ratio is 49.87%.
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Several brokerages have recently weighed in on MKC. Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research report on Thursday, June 1st. Jefferies Group LLC upgraded McCormick & Company, from a “hold” rating to a “buy” rating and upped their price target for the company from $95.00 to $110.00 in a research report on Friday, July 28th. Credit Suisse Group set a $108.00 price target on McCormick & Company, and gave the company a “buy” rating in a research report on Saturday, July 1st. BidaskClub cut McCormick & Company, from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) began coverage on McCormick & Company, in a research report on Friday, June 16th. They set a “neutral” rating and a $101.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $104.00.
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.
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