Peapack Gladstone Financial Corp cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,330 shares of the company’s stock after selling 600 shares during the period. Peapack Gladstone Financial Corp’s holdings in McCormick & Company, were worth $1,397,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Janus Henderson Group PLC boosted its holdings in McCormick & Company, by 153.3% in the 2nd quarter. Janus Henderson Group PLC now owns 478,259 shares of the company’s stock valued at $46,638,000 after purchasing an additional 289,474 shares during the period. Williams Jones & Associates LLC boosted its holdings in McCormick & Company, by 2.2% in the 2nd quarter. Williams Jones & Associates LLC now owns 124,378 shares of the company’s stock valued at $12,128,000 after purchasing an additional 2,644 shares during the period. Capital Research Global Investors boosted its holdings in McCormick & Company, by 1.9% in the 2nd quarter. Capital Research Global Investors now owns 215,000 shares of the company’s stock valued at $20,965,000 after purchasing an additional 4,096 shares during the period. Goldman Sachs Group Inc. boosted its holdings in McCormick & Company, by 19.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,067,062 shares of the company’s stock valued at $104,049,000 after purchasing an additional 177,210 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in McCormick & Company, by 3.9% in the 2nd quarter. HighTower Advisors LLC now owns 45,110 shares of the company’s stock valued at $4,405,000 after purchasing an additional 1,706 shares during the period. 72.74% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Michael R. Smith sold 5,500 shares of the company’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 in the company, valued at $1,974,844.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 15.30% of the company’s stock.

McCormick & Company, Incorporated (NYSE MKC) traded down 0.28% during trading on Friday, hitting $97.58. 93,236 shares of the stock were exchanged. McCormick & Company, Incorporated has a 52 week low of $88.64 and a 52 week high of $106.50. The firm has a 50-day moving average of $97.41 and a 200-day moving average of $98.89. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 25.92 and a beta of 0.53.

McCormick & Company, (NYSE:MKC) last released its quarterly earnings results on Thursday, September 28th. The company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.07. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $1.03 earnings per share. McCormick & Company,’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that McCormick & Company, Incorporated will post $4.22 earnings per share for the current fiscal year.

The firm 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. The ex-dividend date is Friday, October 6th. This represents a $1.88 annualized dividend and a dividend yield of 1.91%. McCormick & Company,’s dividend payout ratio (DPR) is presently 51.93%.

A number of analysts have weighed in on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of McCormick & Company, in a report on Friday, June 16th. They issued a “neutral” rating and a $101.00 price target for the company. Citigroup Inc. increased their price target on shares of McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Monday. Stifel Nicolaus reissued a “hold” rating and issued a $103.00 price target (up from $95.00) on shares of McCormick & Company, in a report on Monday. Zacks Investment Research raised shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a report on Monday. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $115.00 price target (up from $112.00) on shares of McCormick & Company, in a report on Friday, September 29th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $105.00.

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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.

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

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