Cim LLC boosted its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 3.5% during the first quarter, Holdings Channel reports. The fund owned 7,177 shares of the company’s stock after buying an additional 240 shares during the period. Cim LLC’s holdings in MCCORMICK & CO /SH were worth $1,081,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MKC. F3Logic LLC purchased a new stake in MCCORMICK & CO /SH in the first quarter valued at approximately $1,757,000. Moors & Cabot Inc. purchased a new stake in shares of MCCORMICK & CO /SH during the first quarter worth $296,000. Dean Capital Investments Management LLC purchased a new stake in shares of MCCORMICK & CO /SH during the first quarter worth $1,445,000. Private Ocean LLC purchased a new stake in shares of MCCORMICK & CO /SH during the first quarter worth $27,000. Finally, Toronto Dominion Bank increased its position in shares of MCCORMICK & CO /SH by 16.8% during the first quarter. Toronto Dominion Bank now owns 86,016 shares of the company’s stock worth $12,953,000 after acquiring an additional 12,401 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.
In other news, VP Michael R. Smith sold 9,200 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $154.49, for a total transaction of $1,421,308.00. Following the completion of the sale, the vice president now owns 30,553 shares in the company, valued at $4,720,132.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Alan D. Wilson sold 90,000 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $140.00, for a total transaction of $12,600,000.00. The disclosure for this sale can be found here. Insiders sold 195,600 shares of company stock valued at $28,628,076 in the last 90 days. 11.00% of the stock is currently owned by insiders.
A number of research firms have recently weighed in on MKC. Zacks Investment Research lowered MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Monday, January 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $150.00 price objective on shares of MCCORMICK & CO /SH in a research report on Tuesday, March 26th. Deutsche Bank raised MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Finally, Consumer Edge raised MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 25th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. MCCORMICK & CO /SH has a consensus rating of “Hold” and an average target price of $132.57.
Shares of MKC stock traded down $0.24 on Wednesday, reaching $154.29. 2,517 shares of the stock were exchanged, compared to its average volume of 755,467. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.21. MCCORMICK & CO /SH NV has a twelve month low of $99.53 and a twelve month high of $157.00. The company has a market cap of $20.33 billion, a P/E ratio of 31.14, a PEG ratio of 3.25 and a beta of 0.26.
MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. MCCORMICK & CO /SH had a net margin of 12.19% and a return on equity of 21.41%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. MCCORMICK & CO /SH’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts forecast that MCCORMICK & CO /SH NV will post 5.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a $0.57 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $2.28 annualized dividend and a yield of 1.48%. MCCORMICK & CO /SH’s dividend payout ratio is presently 45.88%.
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MCCORMICK & CO /SH Profile
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
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