BlackRock Inc. lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,941,485 shares of the company’s stock after selling 463,928 shares during the quarter. BlackRock Inc. owned about 8.77% of McCormick & Company, worth $969,395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MKC. Pioneer Investment Management Inc. raised its stake in shares of McCormick & Company, by 630.5% in the 1st quarter. Pioneer Investment Management Inc. now owns 865,785 shares of the company’s stock valued at $84,457,000 after acquiring an additional 747,268 shares during the period. TimesSquare Capital Management LLC purchased a new position in shares of McCormick & Company, in the 1st quarter valued at $72,060,000. Harbour Capital Advisors LLC raised its stake in shares of McCormick & Company, by 22,166.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 722,549 shares of the company’s stock valued at $7,410,000 after acquiring an additional 719,304 shares during the period. Vanguard Group Inc. raised its stake in shares of McCormick & Company, by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 11,962,754 shares of the company’s stock valued at $1,166,965,000 after acquiring an additional 420,241 shares during the period. Finally, State Street Corp raised its stake in shares of McCormick & Company, by 5.4% in the 1st quarter. State Street Corp now owns 7,256,472 shares of the company’s stock valued at $707,872,000 after acquiring an additional 368,990 shares during the period. Institutional investors own 72.74% of the company’s stock.

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A number of brokerages have recently commented on MKC. BidaskClub raised shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research downgraded shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Jefferies Group LLC reissued a “hold” rating and issued a $95.00 target price on shares of McCormick & Company, in a research note on Thursday, July 27th. Credit Suisse Group set a $108.00 target price on shares of McCormick & Company, and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of McCormick & Company, in a research note on Friday, June 16th. They issued a “neutral” rating and a $101.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $103.50.

Shares of McCormick & Company, Incorporated (NYSE MKC) opened at 98.93 on Tuesday. The company’s 50-day moving average is $96.40 and its 200 day moving average is $99.05. The stock has a market cap of $12.33 billion, a P/E ratio of 26.28 and a beta of 0.52. McCormick & Company, Incorporated has a 1-year low of $88.64 and a 1-year high of $106.50.

McCormick & Company, (NYSE:MKC) last released its earnings results on Thursday, June 29th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.06. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. Equities research analysts anticipate that McCormick & Company, Incorporated will post $4.13 EPS for the current year.

McCormick & 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.

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

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