McCormick & Company, Incorporated (NYSE:MKC) Stake Lowered by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 278,492 shares of the company’s stock after selling 8,500 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.25% of McCormick & Company, worth $27,156,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FNY Managed Accounts LLC acquired a new position in shares of McCormick & Company, during the 1st quarter worth approximately $135,000. Harfst & Associates Inc. acquired a new position in shares of McCormick & Company, during the 1st quarter worth approximately $139,000. Van ECK Associates Corp raised its position in shares of McCormick & Company, by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 1,689 shares of the company’s stock worth $165,000 after purchasing an additional 109 shares during the last quarter. IFP Advisors Inc raised its position in shares of McCormick & Company, by 28.4% during the 2nd quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock worth $174,000 after purchasing an additional 395 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of McCormick & Company, by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 1,995 shares of the company’s stock worth $195,000 after purchasing an additional 66 shares during the last quarter. 72.90% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated (NYSE MKC) traded up 0.48% on Friday, hitting $98.94. 2,298,826 shares of the stock traded hands. McCormick & Company, Incorporated has a 12-month low of $88.64 and a 12-month high of $106.50. The stock has a 50-day moving average price of $96.30 and a 200 day moving average price of $99.05. The stock has a market cap of $12.33 billion, a P/E ratio of 26.28 and a beta of 0.52.

McCormick & Company, (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 29th. The company reported $0.82 EPS for the quarter, topping the consensus estimate 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 net margin of 10.69% and a return on equity of 28.28%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. On average, equities analysts expect that McCormick & Company, Incorporated will post $4.13 EPS for the current fiscal year.

MKC has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Edward Jones raised shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Jefferies Group LLC reissued a “hold” rating and issued a $95.00 price objective on shares of McCormick & Company, in a research report on Friday, May 19th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of McCormick & Company, in a research report on Friday, June 16th. They issued a “neutral” rating and a $101.00 price objective for the company. Finally, BidaskClub cut shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $103.11.

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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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