Eqis Capital Management Inc. trimmed its stake in McCormick & Company, Incorporated (NYSE:MKC) by 15.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,056 shares of the company’s stock after selling 4,411 shares during the period. Eqis Capital Management Inc.’s holdings in McCormick & Company, were worth $2,572,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. Ameriprise Financial Inc. raised its position in shares of McCormick & Company, by 19.1% in the 1st quarter. Ameriprise Financial Inc. now owns 74,859 shares of the company’s stock worth $7,301,000 after acquiring an additional 12,015 shares in the last quarter. Wellington Management Group LLP purchased a new position in McCormick & Company, during the 1st quarter worth $7,852,000. Teachers Advisors LLC grew its stake in McCormick & Company, by 2.6% during the 1st quarter. Teachers Advisors LLC now owns 141,878 shares of the company’s stock worth $13,840,000 after buying an additional 3,616 shares during the last quarter. Cleararc Capital Inc. grew its stake in McCormick & Company, by 0.3% during the 1st quarter. Cleararc Capital Inc. now owns 2,797 shares of the company’s stock worth $273,000 after buying an additional 9 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in McCormick & Company, by 7.1% during the 1st quarter. Thrivent Financial For Lutherans now owns 4,677 shares of the company’s stock worth $453,000 after buying an additional 310 shares during the last quarter. 70.01% of the stock is owned by hedge funds and other institutional investors.
Several analysts have weighed in on MKC shares. BidaskClub downgraded McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Credit Suisse Group set a $108.00 price target on McCormick & Company, and gave the company a “buy” rating in a research note on Saturday, July 1st. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Jefferies Group LLC restated a “hold” rating and issued a $95.00 target price on shares of McCormick & Company, in a research note on Thursday, July 27th. Finally, Zacks Investment Research downgraded McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $105.50.
TRADEMARK VIOLATION WARNING: This report was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://www.dispatchtribunal.com/2017/10/27/eqis-capital-management-inc-trims-holdings-in-mccormick-company-incorporated-mkc.html.
McCormick & Company, Incorporated (NYSE:MKC) traded down 0.21% during midday trading on Friday, hitting $98.83. The stock had a trading volume of 156,955 shares. The stock has a 50-day moving average price of $98.47 and a 200 day moving average price of $98.78. McCormick & Company, Incorporated has a 12-month low of $88.64 and a 12-month high of $106.50. The firm has a market cap of $12.95 billion, a P/E ratio of 27.44 and a beta of 0.53.
McCormick & Company, (NYSE:MKC) last posted its quarterly earnings results on Thursday, September 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.07. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. On average, equities analysts anticipate that McCormick & Company, Incorporated will post $4.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Shareholders of record on Tuesday, October 10th were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.88 annualized dividend and a yield of 1.90%. McCormick & Company,’s dividend payout ratio is 51.93%.
In other news, Director Freeman A. Hrabowski III sold 3,000 shares of McCormick & Company, stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $98.68, for a total transaction of $296,040.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael R. Smith sold 5,500 shares of McCormick & Company, stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $102.60, for a total transaction of $564,300.00. Following the sale, the vice president now owns 19,248 shares in the company, valued at $1,974,844.80. The disclosure for this sale can be found here. Company insiders own 15.30% of the company’s stock.
McCormick & 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.
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.