Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Raises Position in McCormick & Company, Incorporated (MKC)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 6.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,473 shares of the company’s stock after buying an additional 1,188 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in McCormick & Company, were worth $2,101,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank raised its holdings in McCormick & Company, by 24.3% in the 2nd quarter. Toronto Dominion Bank now owns 39,362 shares of the company’s stock valued at $3,838,000 after buying an additional 7,684 shares during the last quarter. Swiss National Bank raised its holdings in McCormick & Company, by 1.2% during the 2nd quarter. Swiss National Bank now owns 913,348 shares of the company’s stock worth $89,061,000 after purchasing an additional 10,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in McCormick & Company, by 15.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,241 shares of the company’s stock worth $2,949,000 after purchasing an additional 4,044 shares during the last quarter. Mcdaniel Terry & Co. raised its holdings in McCormick & Company, by 38.6% during the 2nd quarter. Mcdaniel Terry & Co. now owns 106,573 shares of the company’s stock worth $10,392,000 after purchasing an additional 29,656 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in McCormick & Company, by 8.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 35,374 shares of the company’s stock worth $3,449,000 after purchasing an additional 2,843 shares during the last quarter. Institutional investors and hedge funds own 70.14% of the company’s stock.

Shares of McCormick & Company, Incorporated (MKC) opened at $96.92 on Friday. The company has a market cap of $12,696.23, a P/E ratio of 24.41, a PEG ratio of 2.45 and a beta of 0.53. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $106.50. The company has a current ratio of 0.95, a quick ratio of 0.47 and a debt-to-equity ratio of 1.86.

McCormick & Company, (NYSE:MKC) last announced its quarterly earnings data on Thursday, September 28th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.05 by $0.07. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. research analysts expect that McCormick & Company, Incorporated will post 4.22 earnings per share for the current 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 of this dividend was Friday, October 6th. McCormick & Company,’s dividend payout ratio (DPR) is 51.93%.

Several research firms have issued reports on MKC. BidaskClub upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Citigroup Inc. raised their price target 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. Jefferies Group LLC restated a “hold” rating and set a $95.00 price target on shares of McCormick & Company, in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a report on Tuesday, August 29th. Finally, Stifel Nicolaus restated a “hold” rating and set a $103.00 price target (up previously from $95.00) on shares of McCormick & Company, in a report on Monday, October 2nd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $106.00.

In related news, Director Freeman A. Hrabowski III sold 3,000 shares of McCormick & Company, stock in a transaction on Friday, October 13th. The shares were sold at an average price of $98.68, for a total value of $296,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael R. Smith sold 5,500 shares of McCormick & Company, stock in a transaction 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 of the company’s stock, valued at approximately $1,974,844.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,500 shares of company stock valued at $1,357,840. Insiders own 15.30% of the company’s stock.

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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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