Assenagon Asset Management S.A. Acquires 380 Shares of McCormick & Company, Incorporated $MKC

Assenagon Asset Management S.A. increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,802 shares of the company’s stock after buying an additional 380 shares during the period. Assenagon Asset Management S.A.’s holdings in McCormick & Company, Incorporated were worth $971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MKC. Two Sigma Investments LP bought a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $1,518,000. Mackenzie Financial Corp boosted its holdings in McCormick & Company, Incorporated by 6.9% in the 4th quarter. Mackenzie Financial Corp now owns 23,521 shares of the company’s stock valued at $1,793,000 after purchasing an additional 1,514 shares during the period. Wellington Management Group LLP boosted its holdings in McCormick & Company, Incorporated by 8.4% in the 4th quarter. Wellington Management Group LLP now owns 151,523 shares of the company’s stock valued at $11,552,000 after purchasing an additional 11,795 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in McCormick & Company, Incorporated by 14.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,316 shares of the company’s stock valued at $108,000 after purchasing an additional 166 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in McCormick & Company, Incorporated by 943.8% in the 1st quarter. Versant Capital Management Inc now owns 1,096 shares of the company’s stock valued at $90,000 after purchasing an additional 991 shares during the period. 79.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on MKC. Citigroup cut their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, June 17th. Wall Street Zen downgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Jefferies Financial Group cut their price target on shares of McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating for the company in a report on Monday, September 22nd. UBS Group cut their price target on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, August 22nd. Finally, Stifel Nicolaus cut their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.25.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $65.61 on Friday. McCormick & Company, Incorporated has a 52-week low of $63.66 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The company has a market capitalization of $17.61 billion, a P/E ratio of 22.78, a P/E/G ratio of 3.26 and a beta of 0.65. The company has a fifty day moving average of $69.43 and a 200-day moving average of $73.34.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.