McCormick & Company, Incorporated (MKC) Stake Held by Bright Rock Capital Management LLC

Bright Rock Capital Management LLC continued to hold its position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the first quarter, Holdings Channel reports. The institutional investor owned 6,000 shares of the company’s stock at the end of the first quarter. Bright Rock Capital Management LLC’s holdings in McCormick & Company, were worth $585,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. FineMark National Bank & Trust boosted its position in shares of McCormick & Company, by 3,142.9% in the third quarter. FineMark National Bank & Trust now owns 1,135 shares of the company’s stock worth $113,000 after buying an additional 1,100 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of McCormick & Company, during the fourth quarter worth about $131,000. Van ECK Associates Corp boosted its position in shares of McCormick & Company, by 10.5% in the fourth quarter. Van ECK Associates Corp now owns 1,580 shares of the company’s stock worth $147,000 after buying an additional 150 shares during the last quarter. Hall Laurie J Trustee purchased a new position in shares of McCormick & Company, during the fourth quarter worth about $185,000. Finally, Charter Trust Co. purchased a new position in shares of McCormick & Company, during the first quarter worth about $202,000. Institutional investors own 72.99% of the company’s stock.

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

Shares of McCormick & Company, Incorporated (NYSE:MKC) traded up 0.004% during trading on Friday, hitting $100.444. 261,154 shares of the stock traded hands. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 27.132 and a beta of 0.48. The stock has a 50 day moving average of $100.00 and a 200 day moving average of $95.50. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $107.84.

McCormick & Company, (NYSE:MKC) last announced its earnings results on Tuesday, March 28th. The company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The business earned $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. McCormick & Company, had a return on equity of 27.97% and a net margin of 10.71%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 EPS. Analysts expect that McCormick & Company, Incorporated will post $4.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 24th. Stockholders of record on Monday, April 10th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, April 6th. McCormick & Company,’s payout ratio is 50.81%.

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Several equities analysts have issued reports on MKC shares. Zacks Investment Research cut shares of McCormick & Company, from a “hold” rating to a “sell” rating in a research note on Monday, April 3rd. Edward Jones upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, April 6th. JPMorgan Chase & Co. upgraded shares of McCormick & Company, from an “underweight” rating to a “neutral” rating and upped their target price for the company from $91.00 to $96.00 in a research note on Wednesday, April 5th. Deutsche Bank AG started coverage on shares of McCormick & Company, in a research note on Wednesday, February 15th. They set a “hold” rating and a $102.00 target price on the stock. Finally, Barclays PLC restated a “hold” rating and set a $101.00 target price on shares of McCormick & Company, in a research note on Friday, January 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. McCormick & Company, currently has an average rating of “Hold” and an average price target of $100.89.

In other news, Director Alan D. Wilson sold 207,531 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $99.83, for a total transaction of $20,717,819.73. Following the completion of the transaction, the director now directly owns 194,552 shares of the company’s stock, valued at approximately $19,422,126.16. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $95.09, for a total value of $475,450.00. Following the transaction, the director now directly owns 16,555 shares of the company’s stock, valued at $1,574,214.95. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

McCormick & Company, Company Profile

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.

5 Day Chart for NYSE:MKC

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