Pictet Asset Management Ltd. increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 339,474 shares of the company’s stock after buying an additional 15,217 shares during the period. Pictet Asset Management Ltd.’s holdings in McCormick & Company, were worth $35,356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MKC. American Research & Management Co. boosted its position in McCormick & Company, by 5.8% in the first quarter. American Research & Management Co. now owns 17,410 shares of the company’s stock valued at $1,698,000 after buying an additional 950 shares in the last quarter. Orrstown Financial Services Inc. boosted its position in McCormick & Company, by 0.3% in the first quarter. Orrstown Financial Services Inc. now owns 12,057 shares of the company’s stock valued at $1,176,000 after buying an additional 37 shares in the last quarter. Regentatlantic Capital LLC boosted its position in McCormick & Company, by 0.6% in the first quarter. Regentatlantic Capital LLC now owns 3,196 shares of the company’s stock valued at $312,000 after buying an additional 20 shares in the last quarter. Bank of Montreal Can boosted its position in McCormick & Company, by 14.1% in the first quarter. Bank of Montreal Can now owns 181,961 shares of the company’s stock valued at $17,750,000 after buying an additional 22,498 shares in the last quarter. Finally, Fenimore Asset Management Inc. bought a new position in McCormick & Company, during the first quarter valued at about $3,518,000. 73.91% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated (MKC) opened at 95.76 on Thursday. The firm’s 50-day moving average is $96.17 and its 200 day moving average is $99.00. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $106.50. The stock has a market capitalization of $11.93 billion, a PE ratio of 25.43 and a beta of 0.52.

McCormick & Company, (NYSE:MKC) last issued its earnings results on Thursday, June 29th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.75 earnings per share. On average, equities analysts forecast that McCormick & Company, Incorporated will post $4.08 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders 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 dividend on an annualized basis and a yield of 1.96%. McCormick & Company,’s dividend payout ratio is presently 49.87%.

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Several research analysts have issued reports on the company. Zacks Investment Research cut McCormick & Company, from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Goldman Sachs Group, Inc. (The) assumed coverage on McCormick & Company, in a report on Friday, June 16th. They issued a “neutral” rating and a $101.00 price target on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $95.00 price target on shares of McCormick & Company, in a report on Friday, May 19th. Credit Suisse Group set a $108.00 price target on McCormick & Company, and gave the company a “buy” rating in a report on Saturday, July 1st. Finally, Edward Jones raised McCormick & Company, from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently 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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