Advisor Partners LLC Has $294,000 Stake in McCormick & Company, Incorporated (NYSE:MKC)

Advisor Partners LLC boosted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 7.2% during the second quarter, Holdings Channel reports. The fund owned 3,011 shares of the company’s stock after buying an additional 201 shares during the period. Advisor Partners LLC’s holdings in McCormick & Company, were worth $294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Vermont raised 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 last quarter. Bronfman E.L. Rothschild L.P. raised 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 last quarter. First Quadrant L P CA purchased a new position in McCormick & Company, during the first quarter valued at about $3,922,000. Sawgrass Asset Management LLC raised 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 last quarter. Finally, Shell Asset Management Co. raised 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 last quarter. Hedge funds and other institutional investors own 73.91% of the company’s stock.

Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at 97.03 on Friday. McCormick & Company, Incorporated has a 1-year low of $88.64 and a 1-year high of $106.50. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 25.77 and a beta of 0.52. The stock has a 50 day moving average of $95.95 and a 200 day moving average of $99.00.

McCormick & Company, (NYSE:MKC) last announced its earnings results on Thursday, June 29th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 28.28% and a net margin of 10.69%. 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 earned $0.75 earnings per share. Analysts predict that McCormick & Company, Incorporated will post $4.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 10th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.94%. McCormick & Company,’s dividend payout ratio is presently 49.87%.

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Several research analysts have issued reports on MKC shares. Zacks Investment Research upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a report on Thursday, June 1st. BidaskClub lowered shares of McCormick & Company, from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Goldman Sachs Group, Inc. (The) started coverage on shares of McCormick & Company, in a report on Friday, June 16th. They set a “neutral” rating and a $101.00 price target for the company. Jefferies Group LLC upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and raised their price target for the stock from $95.00 to $110.00 in a report on Friday, July 28th. Finally, Edward Jones upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average 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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Institutional Ownership by Quarter for McCormick & Company, (NYSE:MKC)

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