McCormick & Company, Incorporated (MKC) Shares Sold by Clinton Group Inc.

Clinton Group Inc. reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,192 shares of the company’s stock after selling 141 shares during the period. Clinton Group Inc.’s holdings in McCormick & Company, were worth $214,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MKC. Ameriprise Financial Inc. grew its stake in 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. Pacer Advisors Inc. grew its stake in McCormick & Company, by 3.4% in the 1st quarter. Pacer Advisors Inc. now owns 1,995 shares of the company’s stock worth $195,000 after acquiring an additional 66 shares in the last quarter. JPMorgan Chase & Co. grew its stake in McCormick & Company, by 60.4% in the 1st quarter. JPMorgan Chase & Co. now owns 255,530 shares of the company’s stock worth $24,926,000 after acquiring an additional 96,208 shares in the last quarter. Victory Capital Management Inc. grew its stake in McCormick & Company, by 30.2% in the 1st quarter. Victory Capital Management Inc. now owns 20,666 shares of the company’s stock worth $2,016,000 after acquiring an additional 4,796 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in McCormick & Company, by 6.9% in the 1st quarter. Van ECK Associates Corp now owns 1,689 shares of the company’s stock worth $165,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 72.74% of the company’s stock.

In related news, VP Michael R. Smith sold 5,500 shares of McCormick & Company, stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $102.60, for a total value of $564,300.00. Following the completion of the transaction, the vice president now owns 19,248 shares in the company, valued at $1,974,844.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.30% of the company’s stock.

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Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at 97.45 on Wednesday. The stock has a 50 day moving average of $97.51 and a 200 day moving average of $98.77. The stock has a market cap of $12.14 billion, a PE ratio of 25.88 and a beta of 0.53. McCormick & Company, Incorporated has a 12 month low of $88.64 and a 12 month high of $106.50.

McCormick & Company, (NYSE:MKC) last announced its quarterly earnings data on Thursday, September 28th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.07. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. On average, equities analysts anticipate that McCormick & Company, Incorporated will post $4.22 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, October 6th. McCormick & Company,’s dividend payout ratio (DPR) is currently 51.93%.

A number of brokerages have commented on MKC. Jefferies Group LLC set a $115.00 target price on shares of McCormick & Company, and gave the stock a “buy” rating in a research note on Saturday. Stifel Nicolaus restated a “hold” rating and issued a $103.00 target price (up from $95.00) on shares of McCormick & Company, in a research note on Monday, October 2nd. Zacks Investment Research upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research note on Monday, October 2nd. Citigroup Inc. upped their target price on shares of McCormick & Company, from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Finally, Credit Suisse Group restated a “buy” rating and issued a $115.00 target price (up from $112.00) on shares of McCormick & Company, in a research note on Friday, September 29th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.50.

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.

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

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