Penobscot Investment Management Company Inc. grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,836 shares of the company’s stock after purchasing an additional 1,090 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in McCormick & Company, were worth $2,036,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Rowland & Co. Investment Counsel ADV grew its holdings in shares of McCormick & Company, by 0.4% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 3,148 shares of the company’s stock worth $308,000 after purchasing an additional 11 shares during the last quarter. HM Capital Management LLC grew its holdings in shares of McCormick & Company, by 0.5% during the second quarter. HM Capital Management LLC now owns 3,686 shares of the company’s stock worth $359,000 after buying an additional 17 shares during the last quarter. Ironwood Investment Management LLC grew its holdings in shares of McCormick & Company, by 0.7% during the second quarter. Ironwood Investment Management LLC now owns 3,628 shares of the company’s stock worth $354,000 after buying an additional 25 shares during the last quarter. OLD National Bancorp IN grew its holdings in shares of McCormick & Company, by 0.9% during the second quarter. OLD National Bancorp IN now owns 4,377 shares of the company’s stock worth $427,000 after buying an additional 37 shares during the last quarter. Finally, Security National Bank of Sioux City Iowa IA grew its holdings in shares of McCormick & Company, by 0.3% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,727 shares of the company’s stock worth $1,339,000 after buying an additional 37 shares during the last quarter. 70.14% of the stock is currently owned by institutional investors.

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, stock in a transaction dated 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 of the company’s stock, valued at approximately $1,873,087.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael R. Smith sold 5,500 shares of McCormick & Company, stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $102.60, for a total transaction of $564,300.00. Following the transaction, the vice president now directly owns 19,248 shares of the company’s stock, valued at $1,974,844.80. The disclosure for this sale can be found here. Insiders have sold a total of 13,500 shares of company stock valued at $1,357,840 over the last ninety days. 15.30% of the stock is owned by insiders.

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A number of equities analysts recently issued reports on MKC shares. Zacks Investment Research raised McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Monday, October 2nd. Jefferies Group LLC set a $115.00 price target on McCormick & Company, and gave the stock a “buy” rating in a report on Saturday, October 7th. Credit Suisse Group restated a “buy” rating and issued a $115.00 price objective (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 restated a “hold” rating and issued a $103.00 price objective (up previously from $95.00) on shares of McCormick & Company, in a research report on Monday, October 2nd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. McCormick & Company, presently has a consensus rating of “Buy” and an average target price of $106.00.

Shares of McCormick & Company, Incorporated (NYSE MKC) traded down $2.91 during trading on Tuesday, reaching $93.99. 1,350,381 shares of the company were exchanged, compared to its average volume of 1,170,000. The stock has a market cap of $12,290.00, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.45 and a beta of 0.53. McCormick & Company, Incorporated has a 12-month low of $88.64 and a 12-month high of $106.50. The company has a current ratio of 0.95, a quick ratio of 0.47 and a debt-to-equity ratio of 1.86.

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

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, October 6th. McCormick & Company,’s payout ratio is 52.08%.

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.

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

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