Wendell David Associates Inc Lowers stake in McCormick & Company Incorporated (MKC)

McCormick & Company Incorporated (MKC) : Wendell David Associates Inc reduced its stake in McCormick & Company Incorporated by 2.26% during the most recent quarter end. The investment management company now holds a total of 125,490 shares of McCormick & Company Incorporated which is valued at $13,054,725 after selling 2,900 shares in McCormick & Company Incorporated , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.McCormick & Company Incorporated makes up approximately 2.50% of Wendell David Associates Inc’s portfolio.

Other Hedge Funds, Including , Dearborn Partners reduced its stake in MKC by selling 100 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 49,443 shares of MKC which is valued at $5,143,555. McCormick & Company Incorporated makes up approx 0.44% of Dearborn Partners’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in MKC by selling 998 shares or 2.16% in the most recent quarter. The Hedge Fund company now holds 45,099 shares of MKC which is valued at $4,823,789. McCormick & Company Incorporated makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio.

McCormick & Company Incorporated closed down -0.98 points or -0.93% at $104.03 with 5,06,287 shares getting traded on Wednesday. Post opening the session at $105.34, the shares hit an intraday low of $104 and an intraday high of $105.34 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, McCormick & Company Incorporated reported $0.75 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jun 30, 2016. Analyst had a consensus of $0.74. The company had revenue of $1063.30 million for the quarter, compared to analysts expectations of $1062.80 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.

Many Wall Street Analysts have commented on McCormick & Company Incorporated. Company shares were Reiterated by Deutsche Bank on Jul 1, 2016 to “Buy”, Firm has raised the Price Target to $ 113 from a previous price target of $110 .McCormick & Company Incorporated was Upgraded by Citigroup to ” Neutral” on Jun 23, 2016. Credit Suisse Resumed McCormick & Company Incorporated on Apr 20, 2016 to “Neutral”, Price Target of the shares are set at $95.

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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