Pictet Asset Management Ltd. raised its position in McCormick & Company, Incorporated (NYSE:MKC) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,257 shares of the company’s stock after buying an additional 10,837 shares during the period. Pictet Asset Management Ltd. owned 0.26% of McCormick & Company, worth $31,631,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Asset Management Inc. increased its position in McCormick & Company, by 34.6% in the third quarter. Rothschild Asset Management Inc. now owns 5,748 shares of the company’s stock valued at $574,000 after buying an additional 1,477 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in McCormick & Company, by 12.2% in the third quarter. Virginia Retirement Systems ET AL now owns 85,300 shares of the company’s stock valued at $8,523,000 after buying an additional 9,300 shares during the last quarter. Ironwood Investment Management LLC increased its position in McCormick & Company, by 26.0% in the third quarter. Ironwood Investment Management LLC now owns 2,581 shares of the company’s stock valued at $258,000 after buying an additional 533 shares during the last quarter. Strategy Asset Managers LLC purchased a new position in McCormick & Company, during the third quarter valued at approximately $2,393,000. Finally, Cornerstone Wealth Management LLC purchased a new position in McCormick & Company, during the third quarter valued at approximately $304,000. Institutional investors own 74.72% of the company’s stock.

Institutional Ownership by Quarter for McCormick & Company, (NYSE:MKC)

Shares of McCormick & Company, Incorporated (NYSE:MKC) traded down 3.51% on Friday, reaching $101.83. The company had a trading volume of 1,305,781 shares. The firm’s 50 day moving average is $102.36 and its 200 day moving average is $97.86. The firm has a market capitalization of $12.70 billion, a PE ratio of 27.51 and a beta of 0.54. McCormick & Company, Incorporated has a 12 month low of $88.64 and a 12 month high of $107.84.

McCormick & Company, (NYSE:MKC) last issued its earnings results on Tuesday, March 28th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. McCormick & Company, had a net margin of 10.68% and a return on equity of 28.03%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities research analysts expect that McCormick & Company, Incorporated will post $4.08 earnings per share for the current fiscal year.

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MKC has been the topic of several research reports. Zacks Investment Research upgraded McCormick & Company, from a “sell” rating to a “hold” rating in a report on Monday, March 6th. J P Morgan Chase & Co upgraded McCormick & Company, from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $91.00 to $96.00 in a report on Wednesday, April 5th. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a report on Thursday, April 6th. Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 price target on shares of McCormick & Company, in a report on Friday, May 19th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on McCormick & Company, in a report on Friday. They issued a “neutral” rating and a $101.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. McCormick & Company, presently has a consensus rating of “Hold” and an average target price of $102.90.

In related news, Director Maritza Gomez Montiel bought 2,500 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average price of $99.62 per share, for a total transaction of $249,050.00. Following the purchase, the director now owns 2,500 shares in the company, valued at approximately $249,050. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Alan D. Wilson sold 207,531 shares of the company’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $99.83, for a total transaction of $20,717,819.73. Following the completion of the sale, the director now owns 194,552 shares in the company, valued at approximately $19,422,126.16. The disclosure for this sale can be found here. Corporate insiders own 15.30% of the company’s stock.

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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