Palisade Asset Management LLC held its stake in McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,322 shares of the company’s stock at the end of the second quarter. Palisade Asset Management LLC’s holdings in McCormick & Company, were worth $1,884,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MKC. BlackRock Inc. boosted its stake in McCormick & Company, by 956.5% in the first quarter. BlackRock Inc. now owns 10,405,413 shares of the company’s stock valued at $1,015,049,000 after buying an additional 9,420,526 shares during the period. Pioneer Investment Management Inc. boosted its stake in McCormick & Company, by 630.5% in the first quarter. Pioneer Investment Management Inc. now owns 865,785 shares of the company’s stock valued at $84,457,000 after buying an additional 747,268 shares during the period. TimesSquare Capital Management LLC purchased a new stake in McCormick & Company, during the first quarter valued at approximately $72,060,000. Harbour Capital Advisors LLC boosted its stake in McCormick & Company, by 22,166.5% in the second quarter. Harbour Capital Advisors LLC now owns 722,549 shares of the company’s stock valued at $7,410,000 after buying an additional 719,304 shares during the period. Finally, Vanguard Group Inc. boosted its stake in McCormick & Company, by 3.6% in the first quarter. Vanguard Group Inc. now owns 11,962,754 shares of the company’s stock valued at $1,166,965,000 after buying an additional 420,241 shares during the period. 73.91% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated (NYSE MKC) opened at 95.76 on Thursday. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $106.50. The stock has a 50 day moving average price of $96.17 and a 200 day moving average price of $99.00. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of 25.43 and a beta of 0.52.

McCormick & Company, (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 29th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.06. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. Analysts anticipate that McCormick & Company, Incorporated will post $4.08 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 10th were issued 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 1.96%. McCormick & Company,’s dividend payout ratio (DPR) is presently 49.87%.

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Several equities research analysts have recently commented on MKC shares. Zacks Investment Research raised McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research note on Monday, June 19th. Edward Jones raised McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Credit Suisse Group set a $108.00 target price on McCormick & Company, and gave the company a “buy” rating in a research note on Saturday, July 1st. Jefferies Group LLC raised McCormick & Company, from a “hold” rating to a “buy” rating and lifted their target price for the company from $95.00 to $110.00 in a research note on Friday, July 28th. Finally, BidaskClub cut McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average 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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