US Bancorp DE Acquires 723 Shares of McCormick & Company, Incorporated (MKC)

US Bancorp DE raised its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,180 shares of the company’s stock after buying an additional 723 shares during the period. US Bancorp DE owned about 0.06% of McCormick & Company, worth $6,550,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Raymond James Trust N.A. raised its stake in McCormick & Company, by 0.4% in the first quarter. Raymond James Trust N.A. now owns 4,527 shares of the company’s stock worth $442,000 after buying an additional 16 shares in the last quarter. Trust Co raised its stake in McCormick & Company, by 0.3% in the fourth quarter. Trust Co now owns 31,205 shares of the company’s stock worth $2,913,000 after buying an additional 108 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in McCormick & Company, by 2.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 106,335 shares of the company’s stock worth $10,373,000 after buying an additional 2,126 shares in the last quarter. Deane Retirement Strategies Inc. raised its stake in McCormick & Company, by 5.5% in the first quarter. Deane Retirement Strategies Inc. now owns 26,641 shares of the company’s stock worth $2,599,000 after buying an additional 1,394 shares in the last quarter. Finally, Bath Savings Trust Co raised its stake in McCormick & Company, by 12.5% in the first quarter. Bath Savings Trust Co now owns 79,869 shares of the company’s stock worth $7,791,000 after buying an additional 8,845 shares in the last quarter. 73.69% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated (NYSE:MKC) traded down 0.56% during midday trading on Friday, reaching $96.09. 688,504 shares of the company traded hands. McCormick & Company, Incorporated has a 12-month low of $88.64 and a 12-month high of $106.50. The company has a 50 day moving average of $95.72 and a 200-day moving average of $99.06. The stock has a market capitalization of $11.97 billion, a P/E ratio of 25.52 and a beta of 0.52.

McCormick & Company, (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 29th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the company posted $0.75 earnings per share. Equities 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 Monday, July 24th. Shareholders of record on Monday, July 10th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Thursday, July 6th. McCormick & Company,’s payout ratio is 49.87%.

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A number of analysts have commented on the stock. Zacks Investment Research lowered shares of 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 shares of McCormick & Company, in a report on Friday, June 16th. They set a “neutral” rating and a $101.00 target price for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $95.00 target price on shares of McCormick & Company, in a report on Friday, May 19th. Credit Suisse Group set a $108.00 price target on shares of McCormick & Company, and gave the stock a “buy” rating in a research report on Saturday, July 1st. Finally, Edward Jones raised shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock 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.

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

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