Rockland Trust Co. Purchases 16,343 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)

Rockland Trust Co. raised its position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 34.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,912 shares of the company’s stock after purchasing an additional 16,343 shares during the quarter. Rockland Trust Co.’s holdings in MCCORMICK & CO /SH were worth $10,696,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new stake in shares of MCCORMICK & CO /SH during the 2nd quarter valued at about $26,000. Capital Investment Advisory Services LLC grew its stake in shares of MCCORMICK & CO /SH by 40.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares during the period. Private Ocean LLC grew its stake in shares of MCCORMICK & CO /SH by 72.9% during the 2nd quarter. Private Ocean LLC now owns 313 shares of the company’s stock valued at $48,000 after purchasing an additional 132 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of MCCORMICK & CO /SH by 277.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 317 shares of the company’s stock valued at $49,000 after acquiring an additional 233 shares during the period. Finally, CSat Investment Advisory L.P. grew its stake in shares of MCCORMICK & CO /SH by 171.2% during the 2nd quarter. CSat Investment Advisory L.P. now owns 339 shares of the company’s stock valued at $53,000 after acquiring an additional 214 shares during the period. Institutional investors and hedge funds own 80.25% of the company’s stock.

MKC has been the subject of a number of recent research reports. Citigroup boosted their price objective on MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. downgraded MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $154.00 to $150.00 in a research note on Tuesday, August 20th. Deutsche Bank set a $142.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a research note on Friday, June 28th. ValuEngine downgraded MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Credit Suisse Group boosted their price objective on MCCORMICK & CO /SH from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. MCCORMICK & CO /SH currently has an average rating of “Hold” and an average target price of $154.86.

In related news, insider Malcolm Swift sold 27,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $169.28, for a total value of $4,604,416.00. Following the transaction, the insider now directly owns 50,039 shares of the company’s stock, valued at approximately $8,470,601.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Aaron Conway sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $168.59, for a total value of $842,950.00. Following the completion of the transaction, the director now directly owns 9,501 shares in the company, valued at $1,601,773.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,902 shares of company stock worth $6,725,405. 11.00% of the stock is owned by insiders.

Shares of NYSE:MKC traded down $1.05 during mid-day trading on Friday, reaching $164.64. 93,783 shares of the company traded hands, compared to its average volume of 811,718. The company’s 50 day moving average price is $162.07 and its 200-day moving average price is $157.69. The firm has a market cap of $22.08 billion, a PE ratio of 33.13, a PEG ratio of 3.87 and a beta of 0.14. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.37. MCCORMICK & CO /SH NV has a 52 week low of $119.00 and a 52 week high of $171.10.

MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.17. MCCORMICK & CO /SH had a return on equity of 21.63% and a net margin of 13.12%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the firm earned $1.28 EPS. The firm’s revenue was up .8% compared to the same quarter last year. On average, research analysts predict that MCCORMICK & CO /SH NV will post 5.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.28 dividend on an annualized basis and a yield of 1.38%. MCCORMICK & CO /SH’s dividend payout ratio is presently 45.88%.

About MCCORMICK & CO /SH

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.

Further Reading: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for MCCORMICK & CO /SH (NYSE:MKC)

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