MCCORMICK & CO /SH NV (NYSE:MKC) Stock Position Decreased by M&R Capital Management Inc.

M&R Capital Management Inc. cut its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 20.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,531 shares of the company’s stock after selling 1,170 shares during the quarter. M&R Capital Management Inc.’s holdings in MCCORMICK & CO /SH were worth $879,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of MCCORMICK & CO /SH by 14.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 134,224 shares of the company’s stock worth $18,953,000 after acquiring an additional 16,578 shares in the last quarter. Sciencast Management LP acquired a new stake in shares of MCCORMICK & CO /SH in the second quarter worth $367,000. Schroder Investment Management Group boosted its position in shares of MCCORMICK & CO /SH by 9.2% in the first quarter. Schroder Investment Management Group now owns 33,463 shares of the company’s stock worth $5,087,000 after buying an additional 2,808 shares during the period. Parallel Advisors LLC boosted its position in shares of MCCORMICK & CO /SH by 13.1% in the second quarter. Parallel Advisors LLC now owns 2,537 shares of the company’s stock worth $455,000 after buying an additional 293 shares during the period. Finally, Alberta Investment Management Corp boosted its position in shares of MCCORMICK & CO /SH by 102.8% in the second quarter. Alberta Investment Management Corp now owns 29,000 shares of the company’s stock worth $5,203,000 after buying an additional 14,700 shares during the period. 74.90% of the stock is owned by institutional investors and hedge funds.

NYSE MKC traded down $0.90 during trading on Thursday, hitting $193.20. 737,059 shares of the company traded hands, compared to its average volume of 792,180. MCCORMICK & CO /SH NV has a 12 month low of $112.22 and a 12 month high of $211.07. The business has a fifty day simple moving average of $199.16 and a 200 day simple moving average of $174.95. The company has a current ratio of 1.02, a quick ratio of 0.50 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $25.74 billion, a P/E ratio of 34.75, a PEG ratio of 6.03 and a beta of 0.39.

MCCORMICK & CO /SH (NYSE:MKC) last posted its earnings results on Saturday, October 3rd. The company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.01. MCCORMICK & CO /SH had a return on equity of 21.34% and a net margin of 13.74%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $1.46 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that MCCORMICK & CO /SH NV will post 5.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Stockholders of record on Monday, October 5th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.28%. MCCORMICK & CO /SH’s payout ratio is presently 46.36%.

MKC has been the subject of several recent analyst reports. Argus initiated coverage on MCCORMICK & CO /SH in a research report on Thursday, September 24th. They issued a “buy” rating and a $215.00 target price for the company. Credit Suisse Group raised their target price on MCCORMICK & CO /SH from $187.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Deutsche Bank raised their target price on MCCORMICK & CO /SH from $156.00 to $182.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of MCCORMICK & CO /SH in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $161.55.

In other news, Director Jacques Tapiero sold 5,000 shares of MCCORMICK & CO /SH stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $199.49, for a total value of $997,450.00. Following the transaction, the director now directly owns 9,433 shares in the company, valued at $1,881,789.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Malcolm Swift sold 24,600 shares of MCCORMICK & CO /SH stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $181.65, for a total value of $4,468,590.00. Following the completion of the transaction, the insider now owns 55,464 shares in the company, valued at $10,075,035.60. The disclosure for this sale can be found here. Insiders own 12.70% of the company’s stock.

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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