First Allied Advisory Services Inc. Has $206,000 Stake in McCormick & Company, Incorporated (MKC)

First Allied Advisory Services Inc. grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,114 shares of the company’s stock after buying an additional 58 shares during the quarter. First Allied Advisory Services Inc.’s holdings in McCormick & Company, were worth $206,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Balyasny Asset Management LLC lifted its holdings in shares of McCormick & Company, by 754.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 77,961 shares of the company’s stock valued at $7,602,000 after buying an additional 68,841 shares during the period. Bayesian Capital Management LP acquired a new position in McCormick & Company, in the 2nd quarter worth about $1,004,000. Ontario Teachers Pension Plan Board raised its holdings in McCormick & Company, by 16.4% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 73,217 shares of the company’s stock worth $7,139,000 after purchasing an additional 10,339 shares during the period. Veritable L.P. raised its holdings in McCormick & Company, by 0.9% in the 2nd quarter. Veritable L.P. now owns 9,853 shares of the company’s stock worth $961,000 after purchasing an additional 92 shares during the period. Finally, Ironwood Investment Counsel LLC raised its holdings in McCormick & Company, by 50.0% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 7,251 shares of the company’s stock worth $707,000 after purchasing an additional 2,416 shares during the period. 72.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated (NYSE MKC) opened at 99.02 on Friday. The firm has a market cap of $12.34 billion, a PE ratio of 26.30 and a beta of 0.53. The firm’s 50 day moving average price is $97.59 and its 200-day moving average price is $98.77. McCormick & Company, Incorporated has a one year low of $88.64 and a one year high of $106.50.

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, beating the Zacks’ consensus estimate of $1.05 by $0.07. McCormick & Company, had a net margin of 8.44% and a return on equity of 20.09%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm earned $1.03 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts predict that McCormick & Company, Incorporated will post $4.22 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.90%. McCormick & Company,’s payout ratio is 51.93%.

A number of equities analysts recently weighed in on MKC shares. Jefferies Group LLC set a $115.00 price target on McCormick & Company, and gave the stock a “buy” rating in a report on Saturday, October 7th. 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, October 2nd. Credit Suisse Group reaffirmed a “buy” rating and issued a $115.00 price target (up previously from $112.00) on shares of McCormick & Company, in a report on Friday, September 29th. Edward Jones raised McCormick & Company, from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Finally, Goldman Sachs Group, Inc. (The) started 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $105.50.

In other 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 transaction of $564,300.00. Following the completion of the sale, the vice president now directly owns 19,248 shares in the company, valued at approximately $1,974,844.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.30% of the stock is currently owned by company insiders.

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McCormick & Company, 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.

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

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