McCormick & Company Incorporated (MKC) : Carderock Capital Management Inc reduced its stake in McCormick & Company Incorporated by 7.45% during the most recent quarter end. The investment management company now holds a total of 42,039 shares of McCormick & Company Incorporated which is valued at $4,278,729 after selling 3,385 shares in McCormick & Company Incorporated , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.McCormick & Company Incorporated makes up approximately 2.21% of Carderock Capital Management Inc’s portfolio.
Other Hedge Funds, Including , Natixis Asset Management boosted its stake in MKC in the latest quarter, The investment management firm added 2,398 additional shares and now holds a total of 5,598 shares of McCormick & Company Incorporated which is valued at $569,764. McCormick & Company Incorporated makes up approx 0.06% of Natixis Asset Management’s portfolio.Monetary Management Group Inc reduced its stake in MKC by selling 75 shares or 37.5% in the most recent quarter. The Hedge Fund company now holds 125 shares of MKC which is valued at $12,723. McCormick & Company Incorporated makes up approx 0.01% of Monetary Management Group Inc’s portfolio.Segall Bryant Hamill reduced its stake in MKC by selling 1,210 shares or 2.06% in the most recent quarter. The Hedge Fund company now holds 57,543 shares of MKC which is valued at $5,856,727. McCormick & Company Incorporated makes up approx 0.15% of Segall Bryant Hamill’s portfolio.Oakbrook Investments boosted its stake in MKC in the latest quarter, The investment management firm added 48,715 additional shares and now holds a total of 297,720 shares of McCormick & Company Incorporated which is valued at $31,040,287. McCormick & Company Incorporated makes up approx 1.66% of Oakbrook Investments’s portfolio.
McCormick & Company Incorporated closed down -0.8 points or -0.78% at $101.16 with 3,47,952 shares getting traded on Thursday. Post opening the session at $101.85, the shares hit an intraday low of $100.5 and an intraday high of $101.85 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
On the company’s financial health, McCormick & Company Incorporated reported $0.75 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jun 30, 2016. Analyst had a consensus of $0.74. The company had revenue of $1063.30 million for the quarter, compared to analysts expectations of $1062.80 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.
Many Wall Street Analysts have commented on McCormick & Company Incorporated. Company shares were Reiterated by Deutsche Bank on Jul 1, 2016 to “Buy”, Firm has raised the Price Target to $ 113 from a previous price target of $110 .McCormick & Company Incorporated was Upgraded by Citigroup to ” Neutral” on Jun 23, 2016.
McCormick & Company Incorporated manufactures markets and distributes spices seasoning mixes condiments and other flavorful products to the food industry. The Company has two business segments: consumer and industrial. Under the Consumer segment its brands in the Americas include McCormick Lawry’s and Club House. It also markets ethnic brands such as Zatarain’s Thai Kitchen and Simply Asia. In Europe the Middle East and Africa (EMEA) its brands include the Ducros Schwartz and Kamis brands of spices herbs and seasonings and a line of Vahine brand dessert items. In the Asia/Pacific region it markets products under the McCormick and DaQiao brands. In Australia it markets products under the McCormick brand. In India its majority-owned joint venture owns and trades under the Kohinoor brand. In the industrial business segment it offers seasoning blends spices and herbs condiments coating systems and compound flavors to food manufacturers and foodservice customers.