Howland Capital Management LLC Has $13,389,000 Stake in McCormick & Co. (MKC)
Howland Capital Management LLC decreased its position in McCormick & Co. (NYSE:MKC) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,001 shares of the company’s stock after selling 2,210 shares during the period. Howland Capital Management LLC owned 0.11% of McCormick & Co. worth $13,389,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. First Trust Advisors LP increased its position in shares of McCormick & Co. by 108.3% in the second quarter. First Trust Advisors LP now owns 1,070,844 shares of the company’s stock worth $114,227,000 after buying an additional 556,724 shares during the period. Janus Capital Management LLC increased its position in shares of McCormick & Co. by 16.4% in the second quarter. Janus Capital Management LLC now owns 1,581,927 shares of the company’s stock worth $168,744,000 after buying an additional 222,568 shares during the period. Vanguard Group Inc. increased its position in shares of McCormick & Co. by 2.0% in the second quarter. Vanguard Group Inc. now owns 11,084,604 shares of the company’s stock worth $1,182,395,000 after buying an additional 219,950 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of McCormick & Co. during the second quarter worth about $19,107,000. Finally, BlackRock Fund Advisors increased its position in shares of McCormick & Co. by 6.2% in the second quarter. BlackRock Fund Advisors now owns 3,037,792 shares of the company’s stock worth $324,041,000 after buying an additional 177,417 shares during the period. Institutional investors own 72.26% of the company’s stock.
Shares of McCormick & Co. (NYSE:MKC) traded up 0.02% during midday trading on Monday, reaching $92.32. The company’s stock had a trading volume of 296,849 shares. McCormick & Co. has a 52-week low of $78.45 and a 52-week high of $107.84. The stock has a 50-day moving average price of $93.77 and a 200-day moving average price of $98.66. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 25.49 and a beta of 0.50.
McCormick & Co. (NYSE:MKC) last issued its earnings results on Friday, September 30th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.09. The company earned $1.09 billion during the quarter. McCormick & Co. had a return on equity of 27.26% and a net margin of 10.58%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. Equities research analysts anticipate that McCormick & Co. will post $3.79 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on MKC shares. Sanford C. Bernstein downgraded McCormick & Co. from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $113.00 to $104.00 in a research report on Friday, September 16th. They noted that the move was a valuation call. Jefferies Group lowered their price objective on McCormick & Co. from $100.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, October 12th. Deutsche Bank AG lowered their target price on McCormick & Co. from $113.00 to $112.00 and set a “buy” rating for the company in a report on Friday, September 23rd. Zacks Investment Research upgraded McCormick & Co. from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a report on Thursday, August 18th. Finally, Credit Suisse Group AG upgraded McCormick & Co. from a “neutral” rating to an “outperform” rating and set a $111.00 target price for the company in a report on Tuesday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $100.11.
In related news, Director Freeman A. Hrabowski III sold 2,000 shares of the stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $94.15, for a total transaction of $188,300.00. Following the completion of the sale, the director now directly owns 38,442 shares in the company, valued at approximately $3,619,314.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.70% of the company’s stock.
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.
Receive News & Stock Ratings for McCormick & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Co. and related stocks with our FREE daily email newsletter.