5,793 Shares in McCormick & Company, Incorporated (NYSE:MKC) Acquired by ING Groep NV

ING Groep NV acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,793 shares of the company’s stock, valued at approximately $565,000.

Other institutional investors also recently bought and sold shares of the company. Trust Co. of Vermont increased its position in McCormick & Company, by 1.6% in the first quarter. Trust Co. of Vermont now owns 45,767 shares of the company’s stock valued at $4,464,000 after buying an additional 720 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in McCormick & Company, by 23.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,904 shares of the company’s stock valued at $283,000 after buying an additional 560 shares during the period. First Quadrant L P CA bought a new position in McCormick & Company, during the first quarter valued at about $3,922,000. Sawgrass Asset Management LLC increased its position in McCormick & Company, by 28.7% in the first quarter. Sawgrass Asset Management LLC now owns 550,888 shares of the company’s stock valued at $53,739,000 after buying an additional 122,880 shares during the period. Finally, Shell Asset Management Co. increased its position in McCormick & Company, by 6.0% in the first quarter. Shell Asset Management Co. now owns 155,210 shares of the company’s stock valued at $15,141,000 after buying an additional 8,764 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

McCormick & Company, Incorporated (NYSE:MKC) traded down 0.87% during midday trading on Friday, reaching $94.35. The company’s stock had a trading volume of 168,771 shares. The stock’s 50 day moving average is $97.65 and its 200 day moving average is $99.00. The stock has a market cap of $11.76 billion, a P/E ratio of 25.06 and a beta of 0.52. McCormick & Company, Incorporated has a 12-month low of $88.64 and a 12-month high of $106.50.

McCormick & Company, (NYSE:MKC) last released its earnings results on Thursday, June 29th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.06. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. Analysts anticipate that McCormick & Company, Incorporated will post $4.08 earnings per share for the current year.

The business 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, July 6th. McCormick & Company,’s payout ratio is currently 49.87%.

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Several equities analysts recently weighed in on MKC shares. Zacks Investment Research upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Monday, June 19th. Edward Jones upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Credit Suisse Group set a $108.00 price target on shares of McCormick & Company, and gave the stock a “buy” rating in a report on Saturday, July 1st. Jefferies Group LLC upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and increased their price target for the stock from $95.00 to $110.00 in a report on Friday, July 28th. Finally, BidaskClub downgraded shares of McCormick & Company, from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $104.00.

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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