Bessemer Group Inc. Has $5.74 Million Position in McCormick & Company, Incorporated (MKC)

Bessemer Group Inc. boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,927 shares of the company’s stock after buying an additional 2,927 shares during the period. Bessemer Group Inc.’s holdings in McCormick & Company, were worth $5,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MKC. BlueMountain Capital Management LLC lifted its holdings in McCormick & Company, by 1,600.0% in the second quarter. BlueMountain Capital Management LLC now owns 1,717 shares of the company’s stock valued at $167,000 after buying an additional 1,616 shares during the period. Dupont Capital Management Corp acquired a new position in McCormick & Company, in the third quarter valued at approximately $173,000. IFP Advisors Inc lifted its holdings in McCormick & Company, by 28.4% in the second quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock valued at $174,000 after buying an additional 395 shares during the period. YorkBridge Wealth Partners LLC acquired a new position in McCormick & Company, in the third quarter valued at approximately $174,000. Finally, Commonwealth Bank of Australia raised its holdings in McCormick & Company, by 4.1% in the second quarter. Commonwealth Bank of Australia now owns 2,046 shares of the company’s stock worth $198,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 70.14% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was first reported by Markets Daily and is owned by of Markets Daily. If you are reading this piece on another site, it was illegally copied and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.themarketsdaily.com/2017/11/12/bessemer-group-inc-has-5-74-million-position-in-mccormick-company-incorporated-mkc.html.

Several equities research analysts have weighed in on the stock. Jefferies Group LLC set a $120.00 target price on shares of McCormick & Company, and gave the stock a “buy” rating in a report on Monday, October 30th. Stifel Nicolaus reiterated a “hold” rating and issued a $103.00 target price (up from $95.00) on shares of McCormick & Company, in a report 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 report on Monday, October 2nd. Citigroup Inc. increased their target price on shares of McCormick & Company, from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, October 2nd. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $115.00 target price (up from $112.00) on shares of McCormick & Company, in a report on Friday, September 29th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. McCormick & Company, currently has a consensus rating of “Buy” and an average price target of $106.00.

Shares of McCormick & Company, Incorporated (NYSE:MKC) traded up $1.41 during mid-day trading on Friday, hitting $96.92. 839,700 shares of the stock traded hands, compared to its average volume of 888,507. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.95 and a quick ratio of 0.47. McCormick & Company, Incorporated has a 52 week low of $88.64 and a 52 week high of $106.50. The company has a market capitalization of $12,696.23, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 2.45 and a beta of 0.53.

McCormick & Company, (NYSE:MKC) last issued its quarterly earnings data on Thursday, September 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.07. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. sell-side analysts predict that McCormick & Company, Incorporated will post 4.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, October 6th. McCormick & Company,’s dividend payout ratio is 51.93%.

In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $99.50, for a total transaction of $497,500.00. Following the completion of the sale, the director now owns 18,825 shares of the company’s stock, valued at $1,873,087.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Freeman A. Hrabowski III sold 3,000 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $98.68, for a total transaction of $296,040.00. The disclosure for this sale can be found here. Insiders have sold 13,500 shares of company stock valued at $1,357,840 in the last three months. 15.30% of the stock is owned by insiders.

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)

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.

Latest News

Leave a Reply