Pettee Investors Inc. Has $1,579,000 Stake in McCormick & Company, Incorporated (MKC)

Pettee Investors Inc. Has $1,579,000 Stake in McCormick & Company, Incorporated (MKC)

Pettee Investors Inc. maintained its position in McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,798 shares of the company’s stock at the end of the third quarter. McCormick & Company, accounts for approximately 1.5% of Pettee Investors Inc.’s portfolio, making the stock its 18th largest position. Pettee Investors Inc.’s holdings in McCormick & Company, were worth $1,579,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MKC. Rowland & Co. Investment Counsel ADV boosted its position in McCormick & Company, by 0.3% in the third quarter. Rowland & Co. Investment Counsel ADV now owns 3,790 shares of the company’s stock worth $379,000 after buying an additional 10 shares during the period. HM Capital Management LLC boosted its position in McCormick & Company, by 0.5% in the second quarter. HM Capital Management LLC now owns 3,641 shares of the company’s stock worth $388,000 after buying an additional 17 shares during the period. Pennsylvania Trust Co boosted its position in McCormick & Company, by 1.0% in the third quarter. Pennsylvania Trust Co now owns 4,846 shares of the company’s stock worth $484,000 after buying an additional 46 shares during the period. Wetherby Asset Management Inc. boosted its position in McCormick & Company, by 3.3% in the second quarter. Wetherby Asset Management Inc. now owns 2,321 shares of the company’s stock worth $248,000 after buying an additional 74 shares during the period. Finally, Armstrong Henry H Associates Inc. boosted its position in McCormick & Company, by 1.9% in the third quarter. Armstrong Henry H Associates Inc. now owns 6,264 shares of the company’s stock worth $626,000 after buying an additional 114 shares during the period. 73.25% of the stock is owned by institutional investors.

McCormick & Company, Incorporated (NYSE:MKC) traded up 0.05% during midday trading on Friday, hitting $95.65. The company’s stock had a trading volume of 127,967 shares. The company has a market cap of $12.03 billion, a PE ratio of 25.92 and a beta of 0.47. The stock has a 50 day moving average of $92.66 and a 200 day moving average of $96.44. McCormick & Company, Incorporated has a 52-week low of $85.10 and a 52-week high of $107.84.

McCormick & Company, (NYSE:MKC) last posted its quarterly earnings data on Wednesday, January 25th. The company reported $1.27 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.27. The company earned $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. McCormick & Company, had a return on equity of 27.97% and a net margin of 10.71%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.18 earnings per share. On average, equities analysts expect that McCormick & Company, Incorporated will post $3.79 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were paid a dividend of $0.47 per share. This is a positive change from McCormick & Company,’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, December 28th. This represents a $1.88 annualized dividend and a yield of 1.97%. McCormick & Company,’s dividend payout ratio (DPR) is currently 50.81%.

A number of research firms have recently commented on MKC. Jefferies Group LLC lowered their price target on McCormick & Company, from $95.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, November 30th. Zacks Investment Research cut McCormick & Company, from a “hold” rating to a “sell” rating in a report on Tuesday, December 6th. Credit Suisse Group raised McCormick & Company, from a “neutral” rating to an “outperform” rating and set a $111.00 target price for the company in a report on Tuesday, October 25th. Finally, Bank of America Corp started coverage on McCormick & Company, in a report on Tuesday, December 6th. They issued a “buy” rating and a $100.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $102.49.

McCormick & Company, Company Profile

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company operates in two segments: consumer and industrial. Its brands in the Americas include McCormick, Lawry’s, Stubb’s, Club House, Zatarain’s, Thai Kitchen and Simply Asia.

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