Larson Financial Group LLC Makes New Investment in MCCORMICK & CO /SH NV (NYSE:MKC)

Larson Financial Group LLC acquired a new position in MCCORMICK & CO /SH NV (NYSE:MKC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 584 shares of the company’s stock, valued at approximately $91,000.

Other institutional investors have also modified their holdings of the company. ETRADE Capital Management LLC increased its holdings in MCCORMICK & CO /SH by 1.6% in the 2nd quarter. ETRADE Capital Management LLC now owns 4,082 shares of the company’s stock valued at $633,000 after buying an additional 63 shares during the period. 6 Meridian increased its holdings in MCCORMICK & CO /SH by 2.0% in the 2nd quarter. 6 Meridian now owns 3,473 shares of the company’s stock valued at $538,000 after buying an additional 69 shares during the period. Flagship Harbor Advisors LLC increased its holdings in MCCORMICK & CO /SH by 10.3% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 741 shares of the company’s stock valued at $114,000 after buying an additional 69 shares during the period. Capital Investment Advisory Services LLC increased its holdings in MCCORMICK & CO /SH by 40.0% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the period. Finally, Kistler Tiffany Companies LLC increased its holdings in MCCORMICK & CO /SH by 22.9% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 430 shares of the company’s stock valued at $67,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 80.25% of the company’s stock.

Shares of MCCORMICK & CO /SH stock traded down $0.65 during midday trading on Friday, hitting $165.05. 126,689 shares of the company traded hands, compared to its average volume of 811,718. The stock has a market cap of $22.08 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 3.87 and a beta of 0.14. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.37 and a current ratio of 0.78. The firm’s fifty day moving average price is $162.07 and its 200-day moving average price is $157.69. MCCORMICK & CO /SH NV has a 12 month low of $119.00 and a 12 month high of $171.10.

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

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

In related news, Director Michael Aaron Conway sold 5,000 shares of MCCORMICK & CO /SH stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $168.59, for a total transaction of $842,950.00. Following the sale, the director now directly owns 9,501 shares in the company, valued at approximately $1,601,773.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Margaret M. V. Preston sold 2,402 shares of MCCORMICK & CO /SH stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $161.23, for a total transaction of $387,274.46. Following the sale, the director now owns 28,370 shares in the company, valued at $4,574,095.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,902 shares of company stock worth $6,725,405. 11.00% of the stock is owned by corporate insiders.

MKC has been the topic of several recent analyst reports. ValuEngine lowered shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Citigroup raised their target price on shares of MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Deutsche Bank set a $142.00 price target on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. UBS Group set a $155.00 price target on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. Finally, Credit Suisse Group lifted their price target on shares of MCCORMICK & CO /SH from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $154.86.

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.

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

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