McCormick & Company, Incorporated (MKC) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358,274 shares of the company’s stock after buying an additional 10,766 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.29% of McCormick & Company, worth $34,936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FNY Managed Accounts LLC purchased a new position in McCormick & Company, during the 1st quarter valued at approximately $135,000. Harfst & Associates Inc. purchased a new position in McCormick & Company, during the 1st quarter valued at approximately $139,000. Van ECK Associates Corp grew its holdings in McCormick & Company, by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 1,689 shares of the company’s stock valued at $165,000 after buying an additional 109 shares in the last quarter. IFP Advisors Inc grew its holdings in McCormick & Company, by 28.4% during the 2nd quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock valued at $174,000 after buying an additional 395 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in McCormick & Company, by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 1,995 shares of the company’s stock valued at $195,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 72.90% of the company’s stock.

McCormick & Company, Incorporated (NYSE MKC) opened at 98.04 on Tuesday. McCormick & Company, Incorporated has a one year low of $88.64 and a one year high of $106.50. The stock has a 50 day moving average price of $95.79 and a 200-day moving average price of $99.06. The stock has a market cap of $12.22 billion, a PE ratio of 26.04 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. Equities research analysts expect that McCormick & Company, Incorporated will post $4.15 earnings per share for the current fiscal year.

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Several research firms have weighed in on MKC. BidaskClub upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research cut McCormick & Company, from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Jefferies Group LLC restated a “hold” rating and set a $95.00 price target on shares of McCormick & Company, in a report on Thursday, July 27th. Credit Suisse Group set a $108.00 price target on McCormick & Company, and gave the company a “buy” rating in a report on Saturday, July 1st. Finally, Goldman Sachs Group, Inc. (The) began coverage on McCormick & Company, in a report on Friday, June 16th. They set a “neutral” rating and a $101.00 price target for the company. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. McCormick & Company, has an average rating of “Hold” and a consensus price target of $103.11.

McCormick & 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.

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

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