Suntrust Banks Inc. grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,606 shares of the company’s stock after buying an additional 453 shares during the period. Suntrust Banks Inc.’s holdings in McCormick & Company, were worth $643,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Horizon Investments LLC purchased a new position in shares of McCormick & Company, during the second quarter valued at approximately $524,000. Quantbot Technologies LP increased its stake in shares of McCormick & Company, by 85.1% during the second quarter. Quantbot Technologies LP now owns 9,405 shares of the company’s stock valued at $917,000 after buying an additional 4,323 shares during the period. MML Investors Services LLC increased its stake in shares of McCormick & Company, by 13.9% during the second quarter. MML Investors Services LLC now owns 8,393 shares of the company’s stock valued at $818,000 after buying an additional 1,025 shares during the period. TIAA FSB purchased a new position in shares of McCormick & Company, during the second quarter valued at approximately $2,502,000. Finally, Vanguard Group Inc. increased its stake in shares of McCormick & Company, by 2.5% during the second quarter. Vanguard Group Inc. now owns 12,264,131 shares of the company’s stock valued at $1,195,875,000 after buying an additional 301,377 shares during the period. 72.74% of the stock is currently owned by hedge funds and other institutional investors.

MKC has been the topic of several research analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $110.00 target price on shares of McCormick & Company, in a research note on Thursday, August 31st. BidaskClub raised McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Goldman Sachs Group, Inc. (The) started coverage on McCormick & Company, in a research note on Friday, June 16th. They issued a “neutral” rating and a $101.00 price target on the stock. Credit Suisse Group upped their price target on McCormick & Company, from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Monday, September 18th. Finally, Zacks Investment Research raised McCormick & Company, from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research note on Tuesday, August 29th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. McCormick & Company, presently has an average rating of “Buy” and an average price target of $105.00.

Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at 98.18 on Friday. The company has a 50-day moving average price of $97.45 and a 200 day moving average price of $98.87. The stock has a market capitalization of $12.23 billion, a PE ratio of 26.08 and a beta of 0.53. McCormick & Company, Incorporated has a 52 week low of $88.64 and a 52 week high of $106.50.

McCormick & Company, (NYSE:MKC) last issued its earnings results on Thursday, September 28th. The company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.07. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. McCormick & Company, had a return on equity of 26.09% and a net margin of 10.05%. McCormick & Company,’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. Equities analysts forecast that McCormick & Company, Incorporated will post $4.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, October 6th. McCormick & Company,’s dividend payout ratio (DPR) is presently 51.93%.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/10/08/mccormick-company-incorporated-mkc-shares-bought-by-suntrust-banks-inc.html.

In other news, VP Michael R. Smith sold 5,500 shares of McCormick & Company, stock in a transaction on Friday, September 29th. The stock was sold at an average price of $102.60, for a total value of $564,300.00. Following the transaction, the vice president now directly owns 19,248 shares in the company, valued at approximately $1,974,844.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.30% of the company’s stock.

About McCormick & Company,

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.

Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McCormick & Company, Incorporated (NYSE:MKC).

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

Receive News & Stock Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related stocks with our FREE daily email newsletter.