Pensionfund Sabic Lowers stake in McCormick & Company Incorporated (MKC)

McCormick & Company Incorporated (MKC) : Pensionfund Sabic reduced its stake in McCormick & Company Incorporated by 12.43% during the most recent quarter end. The investment management company now holds a total of 16,200 shares of McCormick & Company Incorporated which is valued at $1.6 Million after selling 2,300 shares in McCormick & Company Incorporated according to a report filed by the company on Apr 4, 2016 with the SEC.McCormick & Company Incorporated makes up approximately 0.49% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Pensionfund Dsm Netherlands reduced its stake in MKC by selling 6,000 shares or 14.93% in the most recent quarter. The Hedge Fund company now holds 34,200 shares of MKC which is valued at $3.4 Million. McCormick & Company Incorporated makes up approx 0.46% of Pensionfund Dsm Netherlands’s portfolio. Beacon Financial Group sold out all of its stake in MKC during the most recent quarter. The investment firm sold 26,782 shares of MKC which is valued $2.7 Million.

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 closed down -1.5 points or -1.50% at $98.53 with 7,66,515 shares getting traded on Monday. Post opening the session at $100.41, the shares hit an intraday low of $98.46 and an intraday high of $100.66 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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