Royal Bank of Canada increased its position in shares of McCormick & Co. (NYSE:MKC) by 7.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 309,814 shares of the company’s stock after buying an additional 20,754 shares during the period. Royal Bank of Canada owned about 0.24% of McCormick & Co. worth $33,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Coconut Grove Bank boosted its position in McCormick & Co. by 1.1% in the second quarter. Coconut Grove Bank now owns 1,145 shares of the company’s stock worth $122,000 after buying an additional 12 shares during the last quarter. Synovus Financial Corp boosted its position in McCormick & Co. by 0.6% in the second quarter. Synovus Financial Corp now owns 2,356 shares of the company’s stock worth $250,000 after buying an additional 15 shares during the last quarter. HM Capital Management LLC boosted its position in McCormick & Co. by 0.5% in the second quarter. HM Capital Management LLC now owns 3,641 shares of the company’s stock worth $388,000 after buying an additional 17 shares during the last quarter. Mission Wealth Management LLC boosted its position in McCormick & Co. by 1.0% in the second quarter. Mission Wealth Management LLC now owns 2,342 shares of the company’s stock worth $250,000 after buying an additional 24 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in McCormick & Co. by 2.0% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 2,931 shares of the company’s stock worth $281,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 73.47% of the company’s stock.

Institutional Ownership by Quarter for McCormick & Co. (NYSE:MKC)

McCormick & Co. (NYSE:MKC) traded down 0.22% during mid-day trading on Friday, reaching $91.20. 579,638 shares of the company were exchanged. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of 25.18 and a beta of 0.50. The stock has a 50 day moving average of $95.17 and a 200-day moving average of $98.79. McCormick & Co. has a one year low of $78.45 and a one year high of $107.84.

McCormick & Co. (NYSE:MKC) last announced its quarterly earnings results on Friday, September 30th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. McCormick & Co. had a net margin of 10.58% and a return on equity of 27.26%. The firm earned $1.09 billion during the quarter. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that McCormick & Co. will post $3.79 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 25th. Stockholders of record on Tuesday, October 11th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.89%. McCormick & Co.’s dividend payout ratio is presently 47.51%.

A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of McCormick & Co. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Sanford C. Bernstein cut shares of McCormick & Co. from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $113.00 to $104.00 in a research note on Friday, September 16th. They noted that the move was a valuation call. Deutsche Bank AG dropped their price target on shares of McCormick & Co. from $113.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday, September 23rd. Jefferies Group dropped their price target on shares of McCormick & Co. from $100.00 to $95.00 and set a “hold” rating on the stock in a research note on Wednesday, October 12th. Finally, Credit Suisse Group AG upgraded shares of McCormick & Co. from a “neutral” rating to an “outperform” rating and set a $111.00 price target on the stock in a research note on Tuesday, October 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $100.99.

In other news, Director Freeman A. Hrabowski III sold 2,000 shares of McCormick & Co. stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $94.15, for a total value of $188,300.00. Following the completion of the sale, the director now directly owns 38,442 shares in the company, valued at $3,619,314.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.70% of the stock is currently owned by insiders.

McCormick & Co. Company Profile

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company operates in two segments: consumer and industrial. Its brands in the Americas include McCormick, Lawry’s, Stubb’s, Club House, Zatarain’s, Thai Kitchen and Simply Asia.

5 Day Chart for NYSE:MKC

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