Cognios Capital LLC Grows Stock Holdings in MCCORMICK & CO /SH NV (NYSE:MKC)

Cognios Capital LLC raised its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 11.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,683 shares of the company’s stock after purchasing an additional 1,802 shares during the period. MCCORMICK & CO /SH accounts for 0.9% of Cognios Capital LLC’s portfolio, making the stock its 17th largest position. Cognios Capital LLC’s holdings in MCCORMICK & CO /SH were worth $2,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MKC. O Shaughnessy Asset Management LLC bought a new position in shares of MCCORMICK & CO /SH during the fourth quarter valued at approximately $26,000. Private Ocean LLC bought a new position in shares of MCCORMICK & CO /SH during the first quarter valued at approximately $27,000. JNBA Financial Advisors bought a new position in shares of MCCORMICK & CO /SH during the fourth quarter valued at approximately $28,000. Oregon Public Employees Retirement Fund increased its stake in shares of MCCORMICK & CO /SH by 38,047.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,051,488 shares of the company’s stock valued at $36,000 after purchasing an additional 5,038,246 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. bought a new position in shares of MCCORMICK & CO /SH during the first quarter valued at approximately $36,000. 79.95% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on MKC. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price target for the company in a research report on Thursday, May 30th. UBS Group set a $155.00 price target on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday. Deutsche Bank set a $142.00 price target on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday. Jefferies Financial Group reissued a “buy” rating and set a $150.00 price target on shares of MCCORMICK & CO /SH in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of MCCORMICK & CO /SH from $143.00 to $148.00 and gave the company a “neutral” rating in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. MCCORMICK & CO /SH currently has a consensus rating of “Hold” and an average target price of $142.67.

In other news, VP Christina M. Mcmullen sold 2,000 shares of MCCORMICK & CO /SH stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $154.00, for a total transaction of $308,000.00. Following the transaction, the vice president now owns 3,211 shares in the company, valued at approximately $494,494. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Alan D. Wilson sold 94,400 shares of MCCORMICK & CO /SH stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $151.47, for a total transaction of $14,298,768.00. Following the transaction, the insider now owns 206,553 shares in the company, valued at approximately $31,286,582.91. The disclosure for this sale can be found here. Insiders have sold a total of 109,465 shares of company stock worth $16,624,484 in the last quarter. Corporate insiders own 11.00% of the company’s stock.

NYSE:MKC traded down $0.86 during trading hours on Friday, reaching $155.01. The company had a trading volume of 3,215,415 shares, compared to its average volume of 840,363. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.34 and a current ratio of 0.78. MCCORMICK & CO /SH NV has a 52 week low of $113.89 and a 52 week high of $159.57. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 3.70 and a beta of 0.24. The company’s 50 day simple moving average is $155.47.

MCCORMICK & CO /SH (NYSE:MKC) last posted its earnings results on Thursday, June 27th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. MCCORMICK & CO /SH had a net margin of 12.73% and a return on equity of 21.71%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm posted $1.02 EPS. The firm’s revenue was up .0% on a year-over-year basis. On average, equities research analysts predict that MCCORMICK & CO /SH NV will post 5.27 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, July 5th. MCCORMICK & CO /SH’s dividend payout ratio is presently 45.88%.

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

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