CIBC World Markets Inc. Raises Position in McCormick & Company, Incorporated (MKC)

CIBC World Markets Inc. increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,554 shares of the company’s stock after purchasing an additional 710 shares during the quarter. CIBC World Markets Inc.’s holdings in McCormick & Company, were worth $4,930,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of MKC. FNY Managed Accounts LLC acquired a new position in shares of McCormick & Company, in the first quarter worth $135,000. Harfst & Associates Inc. acquired a new position in shares of McCormick & Company, in the first quarter worth $139,000. Van ECK Associates Corp raised its holdings in shares of McCormick & Company, by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,689 shares of the company’s stock worth $165,000 after acquiring an additional 109 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of McCormick & Company, by 28.4% in the second quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock worth $174,000 after acquiring an additional 395 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of McCormick & Company, by 3.4% in the first quarter. Pacer Advisors Inc. now owns 1,995 shares of the company’s stock worth $195,000 after acquiring an additional 66 shares during the last quarter. 72.90% of the stock is owned by hedge funds and other institutional investors.

MKC has been the subject of a number of analyst reports. Jefferies Group LLC reissued a “hold” rating and issued a $95.00 price target on shares of McCormick & Company, in a report on Friday, May 19th. Zacks Investment Research raised McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a report on Monday, June 19th. Edward Jones raised McCormick & Company, from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) initiated coverage on McCormick & Company, in a report on Friday, June 16th. They issued a “neutral” rating and a $101.00 price target for the company. Finally, Credit Suisse Group set a $108.00 price target on McCormick & Company, and gave the stock a “buy” rating in a report on Saturday, July 1st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $103.11.

Shares of McCormick & Company, Incorporated (NYSE MKC) opened at 97.60 on Friday. The stock has a market cap of $12.16 billion, a P/E ratio of 25.92 and a beta of 0.52. 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 $95.73 and a 200-day moving average price of $99.04.

McCormick & Company, (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 29th. The company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company posted $0.75 earnings per share. McCormick & Company,’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts forecast that McCormick & Company, Incorporated will post $4.15 EPS for the current fiscal year.

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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.

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

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