Foster Dykema Cabot & Co. Inc. MA continued to hold its position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, Holdings Channel reports. The firm owned 8,000 shares of the company’s stock at the end of the second quarter. Foster Dykema Cabot & Co. Inc. MA’s holdings in McCormick & Company, were worth $780,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sigma Planning Corp increased its position in shares of McCormick & Company, by 5.4% in the second quarter. Sigma Planning Corp now owns 3,254 shares of the company’s stock worth $317,000 after buying an additional 166 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of McCormick & Company, by 42.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 80,687 shares of the company’s stock worth $7,761,000 after buying an additional 23,920 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of McCormick & Company, by 3.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 358,274 shares of the company’s stock worth $34,936,000 after buying an additional 10,766 shares in the last quarter. Wetherby Asset Management Inc. increased its position in shares of McCormick & Company, by 15.7% in the second quarter. Wetherby Asset Management Inc. now owns 3,309 shares of the company’s stock worth $323,000 after buying an additional 448 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of McCormick & Company, during the second quarter worth about $429,000. Institutional investors and hedge funds own 73.91% of the company’s stock.

Shares of McCormick & Company, Incorporated (MKC) opened at 97.03 on Friday. The stock has a 50 day moving average price of $95.95 and a 200-day moving average price of $99.00. The firm has a market cap of $12.09 billion, a PE ratio of 25.77 and a beta of 0.52. McCormick & Company, Incorporated has a 52-week low of $88.64 and a 52-week high of $106.50.

McCormick & Company, (NYSE:MKC) last announced its earnings results on Thursday, June 29th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.06. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities analysts anticipate that McCormick & Company, Incorporated will post $4.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 10th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.88 annualized dividend and a dividend yield of 1.94%. McCormick & Company,’s dividend payout ratio (DPR) is 49.87%.

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A number of brokerages have recently issued reports on MKC. Jefferies Group LLC upgraded McCormick & Company, from a “hold” rating to a “buy” rating and lifted their price target for the company from $95.00 to $110.00 in a report on Friday, July 28th. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Credit Suisse Group set a $108.00 price target on McCormick & Company, and gave the company a “buy” rating in a report on Saturday, July 1st. BidaskClub downgraded McCormick & Company, from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Finally, Zacks Investment Research downgraded McCormick & Company, from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $104.00.

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.

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

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