McCormick & Company, Incorporated (MKC) Shares Sold by State Street Corp

State Street Corp cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,080,523 shares of the company’s stock after selling 175,949 shares during the quarter. State Street Corp owned about 6.24% of McCormick & Company, worth $690,435,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MKC. BlackRock Inc. raised its stake in McCormick & Company, by 956.5% in the first quarter. BlackRock Inc. now owns 10,405,413 shares of the company’s stock valued at $1,015,049,000 after buying an additional 9,420,526 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in McCormick & Company, in the first quarter valued at about $72,060,000. Harbour Capital Advisors LLC raised its stake in McCormick & Company, by 22,166.5% in the second quarter. Harbour Capital Advisors LLC now owns 722,549 shares of the company’s stock valued at $7,410,000 after buying an additional 719,304 shares during the last quarter. Vanguard Group Inc. raised its stake in McCormick & Company, by 3.6% in the first quarter. Vanguard Group Inc. now owns 11,962,754 shares of the company’s stock valued at $1,166,965,000 after buying an additional 420,241 shares during the last quarter. Finally, Gotham Asset Management LLC purchased a new stake in McCormick & Company, in the first quarter valued at about $28,798,000. Institutional investors own 72.74% of the company’s stock.

A number of equities research analysts have commented on the company. BidaskClub upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 price target on shares of McCormick & Company, in a research note on Thursday, July 27th. Citigroup Inc. increased their price target on McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a research note on Tuesday, August 29th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $103.00 price target (up from $95.00) on shares of McCormick & Company, in a research note on Monday, October 2nd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $105.50.

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

COPYRIGHT VIOLATION NOTICE: This report was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://ledgergazette.com/2017/10/10/mccormick-company-incorporated-mkc-shares-sold-by-state-street-corp.html.

Shares of McCormick & Company, Incorporated (NYSE MKC) traded up 0.76% on Tuesday, hitting $97.57. The stock had a trading volume of 28,750 shares. The firm has a market cap of $12.16 billion, a PE ratio of 25.92 and a beta of 0.53. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $106.50. The firm’s 50-day moving average price is $97.47 and its 200 day moving average price is $98.80.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, Octobe

A number of other institutional investors have also added to or reduced their stakes in MKC. BlackRock Inc. raised its stake in McCormick & Company, by 956.5% in the first quarter. BlackRock Inc. now owns 10,405,413 shares of the company’s stock valued at $1,015,049,000 after buying an additional 9,420,526 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in McCormick & Company, in the first quarter valued at about $72,060,000. Harbour Capital Advisors LLC raised its stake in McCormick & Company, by 22,166.5% in the second quarter. Harbour Capital Advisors LLC now owns 722,549 shares of the company’s stock valued at $7,410,000 after buying an additional 719,304 shares during the last quarter. Vanguard Group Inc. raised its stake in McCormick & Company, by 3.6% in the first quarter. Vanguard Group Inc. now owns 11,962,754 shares of the company’s stock valued at $1,166,965,000 after buying an additional 420,241 shares during the last quarter. Finally, Gotham Asset Management LLC purchased a new stake in McCormick & Company, in the first quarter valued at about $28,798,000. Institutional investors own 72.74% of the company’s stock.

A number of equities research analysts have commented on the company. BidaskClub upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 price target on shares of McCormick & Company, in a research note on Thursday, July 27th. Citigroup Inc. increased their price target on McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a research note on Tuesday, August 29th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $103.00 price target (up from $95.00) on shares of McCormick & Company, in a research note on Monday, October 2nd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $105.50.

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

COPYRIGHT VIOLATION NOTICE: This report was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://ledgergazette.com/2017/10/10/mccormick-company-incorporated-mkc-shares-sold-by-state-street-corp.html.

Shares of McCormick & Company, Incorporated (NYSE MKC) traded up 0.76% on Tuesday, hitting $97.57. The stock had a trading volume of 28,750 shares. The firm has a market cap of $12.16 billion, a PE ratio of 25.92 and a beta of 0.53. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $106.50. The firm’s 50-day moving average price is $97.47 and its 200 day moving average price is $98.80.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, October 6th. McCormick & Company,’s payout ratio is currently 51.93%.

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)

Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply