HM Capital Management LLC Raises Stake in McCormick & Co. (MKC)
HM Capital Management LLC raised its position in McCormick & Co. (NYSE:MKC) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,641 shares of the company’s stock after buying an additional 17 shares during the period. McCormick & Co. comprises 0.4% of HM Capital Management LLC’s portfolio, making the stock its 27th largest position. HM Capital Management LLC’s holdings in McCormick & Co. were worth $388,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of McCormick & Co. by 231.7% in the first quarter. Renaissance Technologies LLC now owns 232,200 shares of the company’s stock worth $23,099,000 after buying an additional 162,200 shares during the period. Bank of Montreal Can acquired a new position in shares of McCormick & Co. during the second quarter worth $17,132,000. Candriam Luxembourg S.C.A. raised its position in shares of McCormick & Co. by 2,312.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 153,563 shares of the company’s stock worth $16,381,000 after buying an additional 147,198 shares during the period. Henderson Group PLC raised its position in shares of McCormick & Co. by 677.4% in the second quarter. Henderson Group PLC now owns 119,041 shares of the company’s stock worth $12,698,000 after buying an additional 103,728 shares during the period. Finally, BB&T Securities LLC raised its position in shares of McCormick & Co. by 426.5% in the first quarter. BB&T Securities LLC now owns 84,465 shares of the company’s stock worth $8,402,000 after buying an additional 68,421 shares during the period. 72.46% of the stock is owned by institutional investors and hedge funds.
Shares of McCormick & Co. (NYSE:MKC) traded up 0.55% on Tuesday, hitting $94.85. The company had a trading volume of 593,110 shares. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 26.19 and a beta of 0.47. The stock’s 50-day moving average is $97.50 and its 200 day moving average is $99.14. McCormick & Co. has a 52 week low of $78.45 and a 52 week high of $107.84.
McCormick & Co. (NYSE:MKC) last issued its quarterly earnings data on Friday, September 30th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. McCormick & Co. had a return on equity of 27.26% and a net margin of 10.58%. The company had revenue of $1.09 billion for the quarter. During the same period in the previous year, the business earned $0.85 EPS. McCormick & Co.’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts expect that McCormick & Co. will post $3.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Tuesday, October 11th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, October 6th. McCormick & Co.’s payout ratio is currently 47.51%.
MKC has been the subject of a number of recent analyst reports. Sanford C. Bernstein lowered McCormick & Co. from an “outperform” rating to a “market perform” rating and decreased their target price 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. Citigroup Inc. raised McCormick & Co. from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $85.00 to $102.00 in a research report on Thursday, June 23rd. Deutsche Bank AG decreased their target price on McCormick & Co. from $113.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, September 23rd. Zacks Investment Research raised shares of McCormick & Co. from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research report on Thursday, August 18th. Finally, Jefferies Group reduced their price target on shares of McCormick & Co. from $100.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, October 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $98.99.
In other McCormick & Co. news, Director Freeman A. Hrabowski III sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $94.15, for a total value of $188,300.00. Following the completion of the sale, the director now owns 38,442 shares of the company’s stock, valued at $3,619,314.30. The sale was disclosed in a filing with the SEC, which is available through 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.
Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McCormick & Co. (NYSE:MKC).
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.