Cascadia Advisory Services LLC Grows Position in McCormick & Company, Incorporated (NYSE:MKC)

Cascadia Advisory Services LLC grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,310 shares of the company’s stock after purchasing an additional 2,144 shares during the quarter. Cascadia Advisory Services LLC’s holdings in McCormick & Company, Incorporated were worth $2,235,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Paragon Wealth Strategies LLC purchased a new stake in McCormick & Company, Incorporated in the second quarter worth $26,000. Ameritas Investment Company LLC purchased a new stake in McCormick & Company, Incorporated in the first quarter worth $35,000. Vigilant Capital Management LLC lifted its stake in McCormick & Company, Incorporated by 159.3% in the second quarter. Vigilant Capital Management LLC now owns 420 shares of the company’s stock worth $37,000 after acquiring an additional 258 shares during the period. Certified Advisory Corp purchased a new stake in McCormick & Company, Incorporated in the first quarter worth $38,000. Finally, E Fund Management Co. Ltd. purchased a new stake in McCormick & Company, Incorporated in the first quarter worth $39,000. 74.10% of the stock is owned by institutional investors.

In other news, Director Freeman A. Hrabowski III sold 2,870 shares of the firm’s stock in a transaction on Friday, August 20th. The stock was sold at an average price of $87.50, for a total transaction of $251,125.00. Following the completion of the transaction, the director now directly owns 92,983 shares in the company, valued at $8,136,012.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.90% of the stock is owned by company insiders.

Several brokerages have commented on MKC. Credit Suisse Group lowered their price objective on McCormick & Company, Incorporated from $104.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, September 13th. Stifel Nicolaus reissued a “hold” rating and set a $89.00 price objective on shares of McCormick & Company, Incorporated in a research report on Friday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on McCormick & Company, Incorporated from $95.00 to $91.00 and set a “hold” rating for the company in a research report on Friday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $96.88.

Shares of NYSE:MKC traded up $0.33 on Tuesday, hitting $85.98. 3,409 shares of the company traded hands, compared to its average volume of 1,251,563. McCormick & Company, Incorporated has a 52 week low of $82.03 and a 52 week high of $101.67. The company has a quick ratio of 0.38, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a 50 day simple moving average of $85.93 and a 200-day simple moving average of $87.70. The company has a market cap of $22.98 billion, a PE ratio of 30.75, a PEG ratio of 4.13 and a beta of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Wednesday, June 30th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. McCormick & Company, Incorporated had a return on equity of 19.50% and a net margin of 12.48%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the company earned $0.73 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 26th. Stockholders of record on Monday, July 12th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, July 9th. This represents a $1.36 annualized dividend and a dividend yield of 1.58%. McCormick & Company, Incorporated’s payout ratio is presently 48.06%.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.

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

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