Draper Asset Management LLC Buys 2,369 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Draper Asset Management LLC boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,575 shares of the company’s stock after buying an additional 2,369 shares during the period. McCormick & Company, Incorporated accounts for 2.3% of Draper Asset Management LLC’s investment portfolio, making the stock its 7th largest position. Draper Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,347,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Mutual Advisors LLC raised its position in McCormick & Company, Incorporated by 1.6% in the first quarter. Mutual Advisors LLC now owns 7,934 shares of the company’s stock valued at $707,000 after purchasing an additional 122 shares during the period. Veritable L.P. raised its holdings in shares of McCormick & Company, Incorporated by 0.7% in the 1st quarter. Veritable L.P. now owns 17,840 shares of the company’s stock valued at $1,591,000 after buying an additional 128 shares during the period. IndexIQ Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 3.3% in the 2nd quarter. IndexIQ Advisors LLC now owns 4,071 shares of the company’s stock valued at $360,000 after buying an additional 130 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of McCormick & Company, Incorporated by 2.7% in the 1st quarter. Quadrant Capital Group LLC now owns 5,148 shares of the company’s stock valued at $459,000 after buying an additional 135 shares during the period. Finally, Achmea Investment Management B.V. increased its holdings in McCormick & Company, Incorporated by 1.2% during the 2nd quarter. Achmea Investment Management B.V. now owns 12,456 shares of the company’s stock worth $1,101,000 after purchasing an additional 142 shares during the period. Institutional investors own 74.10% of the company’s stock.

MKC has been the subject of several analyst reports. Credit Suisse Group lowered their price objective on McCormick & Company, Incorporated from $104.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday. Stifel Nicolaus reaffirmed a “hold” rating and set a $89.00 price objective on shares of McCormick & Company, Incorporated in a research report on Friday, July 2nd.

In other news, Director Freeman A. Hrabowski III sold 2,870 shares of the stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $87.50, for a total transaction of $251,125.00. Following the completion of the transaction, the director now directly owns 92,983 shares of the company’s stock, valued at approximately $8,136,012.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 13.90% of the stock is owned by corporate insiders.

MKC traded up $0.56 on Wednesday, hitting $85.64. 8,762 shares of the company traded hands, compared to its average volume of 1,244,854. The company has a 50 day moving average of $86.04 and a 200-day moving average of $87.64. The company has a quick ratio of 0.38, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $22.89 billion, a PE ratio of 30.55, a PEG ratio of 4.13 and a beta of 0.48. McCormick & Company, Incorporated has a 12-month low of $82.03 and a 12-month high of $101.67.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Wednesday, June 30th. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.07. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.47 billion. McCormick & Company, Incorporated had a return on equity of 19.50% and a net margin of 12.48%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 EPS. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.03 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 26th. Shareholders of record on Monday, July 12th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, July 9th. McCormick & Company, Incorporated’s dividend payout ratio is presently 48.06%.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.

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

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