Nordea Investment Management AB increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 303.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 19,894 shares of the company’s stock after buying an additional 14,966 shares during the period. Nordea Investment Management AB’s holdings in McCormick & Company, were worth $1,940,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MKC. FNY Managed Accounts LLC bought a new stake in McCormick & Company, during the first quarter valued at about $135,000. Harfst & Associates Inc. purchased a new position in shares of McCormick & Company, in the first quarter valued at about $139,000. Van ECK Associates Corp lifted its position in shares of McCormick & Company, by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,689 shares of the company’s stock valued at $165,000 after acquiring an additional 109 shares in the last quarter. BlueMountain Capital Management LLC lifted its position in shares of McCormick & Company, by 1,600.0% in the second quarter. BlueMountain Capital Management LLC now owns 1,717 shares of the company’s stock valued at $167,000 after acquiring an additional 1,616 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of McCormick & Company, by 28.4% in the second quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock valued at $174,000 after acquiring an additional 395 shares in the last quarter. 72.74% of the stock is owned by institutional investors.

Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at 98.08 on Wednesday. The stock has a market capitalization of $12.22 billion, a P/E ratio of 26.05 and a beta of 0.53. The company has a 50 day moving average price of $97.31 and a 200-day moving average price of $98.89. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $106.50.

McCormick & Company, (NYSE:MKC) last released its earnings results on Thursday, September 28th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The business 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 company’s quarterly revenue 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. On average, analysts predict that McCormick & Company, Incorporated will post $4.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, October 6th. McCormick & Company,’s dividend payout ratio is presently 51.93%.

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $103.00 price objective (up previously from $95.00) on shares of McCormick & Company, in a research note on Monday. 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 report on Monday. Citigroup Inc. lifted their target price on McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday. Credit Suisse Group reissued a “buy” rating and set a $115.00 target price (up previously from $112.00) on shares of McCormick & Company, in a research note on Friday, September 29th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $110.00 price target on shares of McCormick & Company, in a report on Thursday, August 31st. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. McCormick & Company, presently has an average rating of “Buy” and an average target price of $105.00.

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In related news, VP Michael R. Smith sold 5,500 shares of the firm’s stock in a transaction dated 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 directly owns 19,248 shares of the company’s stock, valued at approximately $1,974,844.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 15.30% of the company’s stock.

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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