Harbour Capital Advisors LLC Boosts Holdings in McCormick & Company, Incorporated (MKC)

Harbour Capital Advisors LLC raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,285 shares of the company’s stock after acquiring an additional 875 shares during the quarter. Harbour Capital Advisors LLC’s holdings in McCormick & Company, were worth $850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Koch Industries Inc. acquired a new stake in shares of McCormick & Company, during the 2nd quarter worth approximately $306,000. Vanguard Group Inc. grew its position in shares of McCormick & Company, by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,264,131 shares of the company’s stock worth $1,195,875,000 after buying an additional 301,377 shares during the period. Janus Henderson Group PLC grew its position in shares of McCormick & Company, by 153.3% during 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. Parametric Portfolio Associates LLC grew its position in shares of McCormick & Company, by 106.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 422,425 shares of the company’s stock worth $41,191,000 after buying an additional 217,929 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of McCormick & Company, by 26.6% during the 2nd quarter. Renaissance Technologies LLC now owns 987,100 shares of the company’s stock worth $96,252,000 after buying an additional 207,600 shares during the period. Hedge funds and other institutional investors own 71.19% of the company’s stock.

In other McCormick & Company, news, VP Michael R. Smith sold 5,500 shares of McCormick & Company, stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $102.60, for a total value of $564,300.00. Following the transaction, the vice president now owns 19,248 shares of the company’s stock, valued at $1,974,844.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $99.50, for a total transaction of $497,500.00. Following the completion of the transaction, the director now directly owns 18,825 shares in the company, valued at approximately $1,873,087.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,000 shares of company stock worth $1,598,490. Insiders own 15.30% of the company’s stock.

MKC has been the subject of several analyst reports. Zacks Investment Research upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a research report on Monday, October 2nd. Jefferies Group LLC set a $115.00 price target on shares of McCormick & Company, and gave the stock a “buy” rating in a research report on Saturday, October 7th. Credit Suisse Group reiterated a “buy” rating and set a $115.00 price target (up previously from $112.00) on shares of McCormick & Company, in a research report on Friday, September 29th. BidaskClub upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $103.00 price target (up previously from $95.00) on shares of McCormick & Company, in a research report on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $106.00.

Shares of McCormick & Company, Incorporated (MKC) traded up $0.75 during midday trading on Tuesday, reaching $100.08. 1,017,900 shares of the company were exchanged, compared to its average volume of 890,185. The firm has a market capitalization of $13,010.00, a PE ratio of 25.02, a P/E/G ratio of 2.51 and a beta of 0.53. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.47 and a current ratio of 0.95. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $106.50.

McCormick & Company, (NYSE:MKC) last issued its quarterly earnings data on Thursday, September 28th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.07. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. analysts forecast that McCormick & Company, Incorporated will post 4.22 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Shareholders of record on Tuesday, October 10th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Friday, October 6th. McCormick & Company,’s payout ratio is currently 52.08%.

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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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