Financial Consulate Inc buys $7,368,101 stake in McCormick & Company Incorporated (MKC)

McCormick & Company Incorporated (MKC) : Financial Consulate Inc scooped up 7 additional shares in McCormick & Company Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 13, 2016. The investment management firm now holds a total of 77,510 shares of McCormick & Company Incorporated which is valued at $7,368,101.McCormick & Company Incorporated makes up approximately 5.01% of Financial Consulate Inc’s portfolio.

McCormick & Company Incorporated opened for trading at $95.05 and hit $95.22 on the upside on Monday, eventually ending the session at $95.08, with a gain of 0.02% or 0.02 points. The heightened volatility saw the trading volume jump to 12,30,094 shares. Company has a market cap of $12,068 M.

Other Hedge Funds, Including , Tufton Capital Management boosted its stake in MKC in the latest quarter, The investment management firm added 3,196 additional shares and now holds a total of 5,171 shares of McCormick & Company Incorporated which is valued at $491,555. McCormick & Company Incorporated makes up approx 0.12% of Tufton Capital Management’s portfolio. Daiwa Sb Investments Ltd. added MKC to its portfolio by purchasing 550 company shares during the most recent quarter which is valued at $52,283. McCormick & Company Incorporated makes up approx 0.01% of Daiwa Sb Investments Ltd.’s portfolio.Capstone Asset Management Co reduced its stake in MKC by selling 510 shares or 1.91% in the most recent quarter. The Hedge Fund company now holds 26,217 shares of MKC which is valued at $2,492,188. McCormick & Company Incorporated makes up approx 0.07% of Capstone Asset Management Co’s portfolio.Eqis Capital Management reduced its stake in MKC by selling 11,975 shares or 18.47% in the most recent quarter. The Hedge Fund company now holds 52,868 shares of MKC which is valued at $5,209,084. McCormick & Company Incorporated makes up approx 0.37% of Eqis Capital Management’s portfolio.

On the company’s financial health, McCormick & Company Incorporated reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Mar 29, 2016. Analyst had a consensus of $0.69. The company had revenue of $1030.20 million for the quarter, compared to analysts expectations of $1029.63 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.

Many Wall Street Analysts have commented on McCormick & Company Incorporated. McCormick & Company Incorporated was Downgraded by BB&T Capital Mkts to ” Hold” on Feb 18, 2016. McCormick & Company Incorporated was Downgraded by JP Morgan to ” Underweight” on Jan 19, 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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