MARSHALL WACE ASIA Ltd Invests $14.53 Million in McCormick & Company, Incorporated (MKC)

MARSHALL WACE ASIA Ltd purchased a new position in McCormick & Company, Incorporated (NYSE:MKC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 148,215 shares of the company’s stock, valued at approximately $14,525,000.

A number of other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of McCormick & Company, during the fourth quarter worth approximately $5,515,000. Van ECK Associates Corp raised its stake 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 period. Federated Investors Inc. PA raised its stake in shares of McCormick & Company, by 8.3% in the fourth quarter. Federated Investors Inc. PA now owns 2,717 shares of the company’s stock worth $254,000 after buying an additional 209 shares during the period. Marshall Wace LLP acquired a new stake in shares of McCormick & Company, during the fourth quarter worth approximately $5,767,000. Finally, Aviva PLC raised its stake in shares of McCormick & Company, by 5.5% in the fourth quarter. Aviva PLC now owns 74,815 shares of the company’s stock worth $6,983,000 after buying an additional 3,898 shares during the period. Institutional investors and hedge funds own 74.64% of the company’s stock.

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

Shares of McCormick & Company, Incorporated (NYSE MKC) traded down 0.68% during mid-day trading on Tuesday, hitting $101.47. The company’s stock had a trading volume of 247,274 shares. The stock’s 50 day moving average price is $102.43 and its 200 day moving average price is $98.04. The company has a market cap of $12.65 billion, a price-to-earnings ratio of 27.41 and a beta of 0.54. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $107.84.

McCormick & Company, (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 28th. The company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.05 billion. McCormick & Company, had a return on equity of 28.03% and a net margin of 10.68%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. Equities analysts forecast that McCormick & Company, Incorporated will post $4.08 EPS for the current year.

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A number of analysts recently commented on MKC shares. Zacks Investment Research upgraded McCormick & Company, from a “sell” rating to a “hold” rating in a report on Monday, March 6th. J P Morgan Chase & Co upgraded McCormick & Company, from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $91.00 to $96.00 in a report on Wednesday, April 5th. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, April 6th. Jefferies Group LLC restated a “hold” rating and issued a $95.00 target price on shares of McCormick & Company, in a research note on Friday, May 19th. Finally, Goldman Sachs Group, Inc. (The) started coverage on McCormick & Company, in a research note on Friday. They issued a “neutral” rating and a $101.00 target price on the stock. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. McCormick & Company, has an average rating of “Hold” and a consensus price target of $102.60.

In other McCormick & Company, news, Director Alan D. Wilson sold 207,531 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 194,552 shares of the company’s stock, valued at $19,422,126.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Maritza Gomez Montiel purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were acquired at an average cost of $99.62 per share, for a total transaction of $249,050.00. Following the completion of the acquisition, the director now owns 2,500 shares of the company’s stock, valued at $249,050. The disclosure for this purchase can be found here. 15.30% of the stock is owned by company insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MKC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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