Louisiana State Employees Retirement System maintained its stake in McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, Holdings Channel reports. The fund owned 7,000 shares of the company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in McCormick & Company, were worth $683,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Fenimore Asset Management Inc. bought a new stake in McCormick & Company, during the first quarter worth approximately $3,518,000. National Pension Service increased its stake in McCormick & Company, by 7.7% in the first quarter. National Pension Service now owns 108,755 shares of the company’s stock worth $10,607,000 after buying an additional 7,743 shares in the last quarter. Dynamic Advisors Solutions LLC increased its stake in McCormick & Company, by 117.7% in the first quarter. Dynamic Advisors Solutions LLC now owns 16,764 shares of the company’s stock worth $1,635,000 after buying an additional 9,064 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in McCormick & Company, by 3.4% in the first quarter. Gulf International Bank UK Ltd now owns 35,627 shares of the company’s stock worth $3,475,000 after buying an additional 1,170 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. bought a new stake in McCormick & Company, during the first quarter worth approximately $214,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of McCormick & Company, Incorporated (NYSE:MKC) traded down 0.70% during mid-day trading on Friday, hitting $94.51. 470,827 shares of the company’s stock traded hands. McCormick & Company, Incorporated has a 1-year low of $88.64 and a 1-year high of $106.50. The stock has a 50 day moving average price of $97.65 and a 200-day moving average price of $99.00. The stock has a market cap of $11.78 billion, a P/E ratio of 25.10 and a beta of 0.52.

McCormick & Company, (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 29th. The company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.06. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts anticipate that McCormick & Company, Incorporated will post $4.08 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 10th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.88 annualized dividend and a dividend yield of 1.99%. McCormick & Company,’s dividend payout ratio (DPR) is 49.87%.

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A number of research firms recently commented on MKC. Zacks Investment Research downgraded shares of McCormick & Company, from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Goldman Sachs Group, Inc. (The) began coverage on shares of McCormick & Company, in a report on Friday, June 16th. They set a “neutral” rating and a $101.00 price objective on the stock. Jefferies Group LLC reissued a “hold” rating and set a $95.00 price objective on shares of McCormick & Company, in a report on Friday, May 19th. Credit Suisse Group set a $108.00 price objective on shares of McCormick & Company, and gave the stock a “buy” rating in a report on Saturday, July 1st. Finally, Edward Jones raised shares of McCormick & Company, from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $104.00.

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.

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

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