Forsta AP Fonden Purchases 10,000 Shares of McCormick & Company, Incorporated (MKC)

Forsta AP Fonden boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 11.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,687 shares of the company’s stock after buying an additional 10,000 shares during the period. Forsta AP Fonden owned approximately 0.09% of McCormick & Company, worth $9,525,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Federated Investors Inc. PA boosted its stake in shares of McCormick & Company, by 8.3% in the fourth quarter. Federated Investors Inc. PA now owns 2,717 shares of the company’s stock worth $254,000 after buying an additional 209 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of McCormick & Company, by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,367 shares of the company’s stock worth $406,000 after buying an additional 230 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of McCormick & Company, during the fourth quarter worth about $1,597,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of McCormick & Company, during the fourth quarter worth about $591,000. Finally, Teachers Advisors LLC boosted its stake in shares of McCormick & Company, by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 138,262 shares of the company’s stock worth $12,904,000 after buying an additional 8,118 shares during the period. 73.91% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated (NYSE:MKC) traded up 1.92% during trading on Friday, reaching $97.03. 1,962,586 shares of the company’s stock traded hands. The company has a 50-day moving average price of $95.95 and a 200 day moving average price of $99.00. McCormick & Company, Incorporated has a one year low of $88.64 and a one year high of $106.50. The firm has a market capitalization of $12.09 billion, a PE ratio of 25.77 and a beta of 0.52.

McCormick & Company, (NYSE:MKC) last announced its earnings results on Thursday, June 29th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.06. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts anticipate that McCormick & Company, Incorporated will post $4.08 earnings per share for the current fiscal year.

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

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A number of equities analysts recently weighed in on MKC shares. Jefferies Group LLC restated a “hold” rating and set a $95.00 target price on shares of McCormick & Company, in a research report on Friday, May 19th. Zacks Investment Research upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research report on Thursday, June 1st. Goldman Sachs Group, Inc. (The) started coverage on shares of McCormick & Company, in a research report on Friday, June 16th. They set a “neutral” rating and a $101.00 target price for the company. BidaskClub lowered shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Credit Suisse Group set a $108.00 target price on shares of McCormick & Company, and gave the stock a “buy” rating in a research report on Saturday, July 1st. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company 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.

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

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