Todays Report: The Eads & Heald Investment Counsel reached $541,000 position of McCormick & Co. (MKC)

The Eads & Heald Investment Counsel reached $541,000 position  of McCormick & Co. (MKC)

Eads & Heald Investment Counsel increased its stake in shares of McCormick & Co. (NYSE:MKC) by 8.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,070 shares of the company’s stock after buying an additional 380 shares during the period. Eads & Heald Investment Counsel’s holdings in McCormick & Co. were worth $541,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in MKC. Geode Capital Management LLC increased its position in McCormick & Co. by 4.1% in the first quarter. Geode Capital Management LLC now owns 1,031,059 shares of the company’s stock valued at $102,379,000 after buying an additional 40,441 shares in the last quarter. AXA increased its position in McCormick & Co. by 20.1% in the first quarter. AXA now owns 97,400 shares of the company’s stock valued at $9,689,000 after buying an additional 16,300 shares in the last quarter. Quadrature Capital Ltd bought a new position in McCormick & Co. during the first quarter valued at about $3,222,000. BB&T Securities LLC increased its position in McCormick & Co. by 426.5% in the first quarter. BB&T Securities LLC now owns 84,465 shares of the company’s stock valued at $8,402,000 after buying an additional 68,421 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new position in McCormick & Co. during the first quarter valued at about $2,393,000. Institutional investors own 72.47% of the company’s stock.

Shares of McCormick & Co. (NYSE:MKC) traded up 0.21% during midday trading on Friday, reaching $94.81. 136,193 shares of the company were exchanged. The stock has a market capitalization of $11.95 billion, a price-to-earnings ratio of 26.18 and a beta of 0.47. The company’s 50-day moving average price is $97.91 and its 200 day moving average price is $99.20. McCormick & Co. has a 52-week low of $78.45 and a 52-week high of $107.84.

McCormick & Co. (NYSE:MKC) last released its earnings results on Friday, September 30th. The company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.09. The company earned $1.09 billion during the quarter. McCormick & Co. had a net margin of 10.58% and a return on equity of 27.26%. McCormick & Co.’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 EPS. On average, equities analysts predict that McCormick & Co. will post $3.79 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Tuesday, October 11th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, October 6th. McCormick & Co.’s payout ratio is currently 47.51%.

Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of McCormick & Co. from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a research note on Friday, July 8th. Citigroup Inc. restated a “neutral” rating on shares of McCormick & Co. in a research note on Tuesday, July 5th. Deutsche Bank AG upped their price objective on shares of McCormick & Co. from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Saturday, July 2nd. Finally, Sanford C. Bernstein downgraded shares of McCormick & Co. from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $113.00 to $104.00 in a research note on Friday, September 16th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. McCormick & Co. has an average rating of “Hold” and a consensus price target of $98.99.

In other news, Director Freeman A. Hrabowski III sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 11th. The shares were sold at an average price of $94.15, for a total value of $188,300.00. Following the completion of the sale, the director now owns 38,442 shares of the company’s stock, valued at approximately $3,619,314.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.70% of the stock is currently owned by insiders.

About McCormick & Co.

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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