Rodgers Brothers buys $4,606,621 stake in McCormick & Company Incorporated (MKC)

McCormick & Company Incorporated (MKC) : Rodgers Brothers scooped up 300 additional shares in McCormick & Company Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 50,121 shares of McCormick & Company Incorporated which is valued at $4,606,621.McCormick & Company Incorporated makes up approximately 1.85% of Rodgers Brothers’s portfolio.

Other Hedge Funds, Including , Bluemountain Capital Management reduced its stake in MKC by selling 1,081 shares or 24.01% in the most recent quarter. The Hedge Fund company now holds 3,422 shares of MKC which is valued at $314,516. McCormick & Company Incorporated makes up approx 0.01% of Bluemountain Capital Management’s portfolio.Eulav Asset Management boosted its stake in MKC in the latest quarter, The investment management firm added 8,100 additional shares and now holds a total of 48,100 shares of McCormick & Company Incorporated which is valued at $4,404,517. McCormick & Company Incorporated makes up approx 0.24% of Eulav Asset Management’s portfolio.Old Mutual Customised Solutions (proprietary) Ltd reduced its stake in MKC by selling 700 shares or 21.88% in the most recent quarter. The Hedge Fund company now holds 2,500 shares of MKC which is valued at $228,925. McCormick & Company Incorporated makes up approx 0.07% of Old Mutual Customised Solutions (proprietary) Ltd’s portfolio.Btim Corp. reduced its stake in MKC by selling 5,725 shares or 4.05% in the most recent quarter. The Hedge Fund company now holds 135,537 shares of MKC which is valued at $12,800,114. McCormick & Company Incorporated makes up approx 0.22% of Btim Corp.’s portfolio.

McCormick & Company Incorporated closed down -0.2 points or -0.22% at $91.2 with 5,79,638 shares getting traded on Monday. Post opening the session at $91.3, the shares hit an intraday low of $91.04 and an intraday high of $91.88 and the price fluctuated in this range throughout the day.Shares ended Monday 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. McCormick & Company Incorporated was Upgraded by Credit Suisse to ” Outperform” on Oct 25, 2016. McCormick & Company Incorporated was Downgraded by Bernstein to ” Mkt Perform” on Sep 16, 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.

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