Russell Investments Group Ltd. increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 83.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,677 shares of the company’s stock after buying an additional 54,140 shares during the period. Russell Investments Group Ltd. owned 0.10% of McCormick & Company, worth $11,573,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of MKC. BlackRock Inc. raised its position 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 worth $1,015,049,000 after buying an additional 9,420,526 shares in the last quarter. Pioneer Investment Management Inc. raised its position 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 worth $84,457,000 after buying an additional 747,268 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of McCormick & Company, during the first quarter worth $72,060,000. Vanguard Group Inc. raised its position 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 worth $1,166,965,000 after buying an additional 420,241 shares in the last quarter. Finally, State Street Corp raised its position 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 worth $707,872,000 after buying an additional 368,990 shares in the last quarter. 73.69% of the stock is currently owned by hedge funds and other institutional investors.
McCormick & Company, Incorporated (NYSE:MKC) traded up 0.92% during mid-day trading on Monday, reaching $97.92. 562,406 shares of the company’s stock were exchanged. McCormick & Company, Incorporated has a 1-year low of $88.64 and a 1-year high of $106.50. The stock has a market capitalization of $12.20 billion, a PE ratio of 26.01 and a beta of 0.52. The firm’s 50-day moving average is $95.95 and its 200 day moving average is $99.00.
McCormick & Company, (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 29th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.06. The business had revenue of $1.11 billion for 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 company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Analysts forecast that McCormick & Company, Incorporated will post $4.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 24th. Investors of record on Monday, July 10th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, July 6th. McCormick & Company,’s payout ratio is 49.87%.
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MKC has been the topic of a number of research reports. Zacks Investment Research lowered shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Edward Jones raised shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $95.00 price target on shares of McCormick & Company, in a research note on Friday, May 19th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of McCormick & Company, in a research note on Friday, June 16th. They issued a “neutral” rating and a $101.00 price target on the stock. Finally, BidaskClub lowered shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. McCormick & Company, has an average rating of “Hold” and an average target price 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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