QS Investors LLC Trims Position in McCormick & Company, Incorporated (MKC)

QS Investors LLC decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 47.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,976 shares of the company’s stock after selling 12,529 shares during the quarter. QS Investors LLC’s holdings in McCormick & Company, were worth $1,363,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in McCormick & Company, by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 12,264,131 shares of the company’s stock valued at $1,195,875,000 after purchasing an additional 301,377 shares during the last quarter. BlackRock Inc. raised its position in McCormick & Company, by 956.5% in the 1st quarter. BlackRock Inc. now owns 10,405,413 shares of the company’s stock valued at $1,015,049,000 after purchasing an additional 9,420,526 shares during the last quarter. State Street Corp raised its position in McCormick & Company, by 5.4% in the 1st quarter. State Street Corp now owns 7,256,472 shares of the company’s stock valued at $707,872,000 after purchasing an additional 368,990 shares during the last quarter. Geode Capital Management LLC raised its position in McCormick & Company, by 6.6% in the 1st quarter. Geode Capital Management LLC now owns 1,207,462 shares of the company’s stock valued at $117,631,000 after purchasing an additional 74,953 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in McCormick & Company, by 26.6% during the 2nd quarter. Renaissance Technologies LLC now owns 987,100 shares of the company’s stock worth $96,252,000 after buying an additional 207,600 shares during the last quarter. Hedge funds and other institutional investors own 72.74% of the company’s stock.

In other McCormick & Company, news, VP Michael R. Smith sold 5,500 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $102.60, for a total value of $564,300.00. Following the sale, the vice president now directly owns 19,248 shares in the company, valued at $1,974,844.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.30% of the stock is owned by insiders.

McCormick & Company, Incorporated (NYSE:MKC) opened at 97.45 on Wednesday. The stock has a market cap of $12.14 billion, a P/E ratio of 25.88 and a beta of 0.53. The stock has a 50 day moving average of $97.51 and a 200-day moving average of $98.77. McCormick & Company, Incorporated has a one year low of $88.64 and a one year high of $106.50.

McCormick & Company, (NYSE:MKC) last issued its quarterly earnings data on Thursday, September 28th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.07. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Analysts anticipate that McCormick & Company, Incorporated will post $4.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, October 6th. McCormick & Company,’s dividend payout ratio is currently 51.93%.

A number of brokerages have commented on MKC. Jefferies Group LLC restated a “hold” rating and set a $95.00 price objective on shares of McCormick & Company, in a research report on Thursday, July 27th. Edward Jones upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research report 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 report on Saturday, July 1st. Zacks Investment Research downgraded shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Finally, Stifel Nicolaus restated a “hold” rating and set a $103.00 price objective (up previously from $95.00) on shares of McCormick & Company, in a research report on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $105.50.

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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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Institutional Ownership by Quarter for McCormick & Company, (NYSE:MKC)

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