McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by BlueCrest Capital Management Ltd

BlueCrest Capital Management Ltd grew its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 758.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 50,377 shares of the company’s stock after buying an additional 44,511 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in McCormick & Company, were worth $4,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its holdings in McCormick & Company, by 153.3% in the 2nd quarter. Janus Henderson Group PLC now owns 478,259 shares of the company’s stock worth $46,638,000 after buying an additional 289,474 shares during the period. Williams Jones & Associates LLC lifted its stake in shares of McCormick & Company, by 2.2% in the 2nd quarter. Williams Jones & Associates LLC now owns 124,378 shares of the company’s stock valued at $12,128,000 after purchasing an additional 2,644 shares during the period. Capital Research Global Investors lifted its stake in shares of McCormick & Company, by 1.9% in the 2nd quarter. Capital Research Global Investors now owns 215,000 shares of the company’s stock valued at $20,965,000 after purchasing an additional 4,096 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of McCormick & Company, by 19.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,067,062 shares of the company’s stock valued at $104,049,000 after purchasing an additional 177,210 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of McCormick & Company, by 3.9% in the 2nd quarter. HighTower Advisors LLC now owns 45,110 shares of the company’s stock valued at $4,405,000 after purchasing an additional 1,706 shares during the period. Institutional investors and hedge funds own 69.36% of the company’s stock.

A number of research analysts have recently commented on MKC shares. Jefferies Group LLC set a $115.00 target price on McCormick & Company, and gave the company a “buy” rating in a research note on Saturday, October 7th. Zacks Investment Research upgraded 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, October 2nd. Credit Suisse Group restated a “buy” rating and issued a $115.00 target price (up previously from $112.00) on shares of McCormick & Company, in a research note on Friday, September 29th. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $103.00 target price (up previously from $95.00) on shares of McCormick & Company, in a research note on Monday, October 2nd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $105.50.

Shares of McCormick & Company, Incorporated (NYSE MKC) traded down 0.44% on Tuesday, reaching $98.69. The company’s stock had a trading volume of 57,074 shares. The firm has a 50-day moving average price of $97.78 and a 200 day moving average price of $98.76. McCormick & Company, Incorporated has a one year low of $88.64 and a one year high of $106.50. The firm has a market capitalization of $12.30 billion, a PE ratio of 26.21 and a beta of 0.53.

McCormick & Company, (NYSE:MKC) last posted its earnings results on Thursday, September 28th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. McCormick & Company, had a return on equity of 26.09% and a net margin of 10.05%. McCormick & Company,’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. On average, analysts anticipate that McCormick & Company, Incorporated will post $4.22 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.88 annualized dividend and a dividend yield of 1.90%. McCormick & Company,’s dividend payout ratio is presently 51.93%.

In other news, VP Michael R. Smith sold 5,500 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $102.60, for a total transaction of $564,300.00. Following the completion of the sale, the vice president now owns 19,248 shares in the company, valued at approximately $1,974,844.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 15.30% of the company’s stock.

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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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