grace capital Acquires New Holdings in MCCORMICK & CO /SH NV (MKC)

grace capital acquired a new stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,000 shares of the company’s stock, valued at approximately $348,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MKC. Mackay Shields LLC purchased a new stake in shares of MCCORMICK & CO /SH during the first quarter valued at $2,170,000. Victory Capital Management Inc. boosted its holdings in MCCORMICK & CO /SH by 8.4% in the first quarter. Victory Capital Management Inc. now owns 30,374 shares of the company’s stock valued at $3,231,000 after purchasing an additional 2,345 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in MCCORMICK & CO /SH by 28.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 19,296 shares of the company’s stock valued at $2,053,000 after purchasing an additional 4,284 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in MCCORMICK & CO /SH by 7.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 430,434 shares of the company’s stock valued at $45,794,000 after purchasing an additional 30,497 shares during the last quarter. Finally, Aperio Group LLC boosted its holdings in MCCORMICK & CO /SH by 0.5% in the first quarter. Aperio Group LLC now owns 172,080 shares of the company’s stock valued at $18,308,000 after purchasing an additional 805 shares during the last quarter. 82.66% of the stock is currently owned by hedge funds and other institutional investors.

MKC stock opened at $131.28 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.42 and a current ratio of 0.85. MCCORMICK & CO /SH NV has a 52-week low of $93.70 and a 52-week high of $131.88. The stock has a market cap of $17.22 billion, a PE ratio of 30.82, a PEG ratio of 2.94 and a beta of 0.55.

MCCORMICK & CO /SH (NYSE:MKC) last posted its earnings results on Thursday, June 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.09. MCCORMICK & CO /SH had a net margin of 15.83% and a return on equity of 21.98%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $0.82 EPS. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. sell-side analysts forecast that MCCORMICK & CO /SH NV will post 4.96 earnings per share for the current fiscal year.

In other news, Director Alan D. Wilson sold 100,000 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $125.30, for a total transaction of $12,530,000.00. Following the sale, the director now directly owns 212,894 shares of the company’s stock, valued at approximately $26,675,618.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alan D. Wilson sold 158,600 shares of the stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $110.00, for a total transaction of $17,446,000.00. Following the sale, the director now directly owns 212,894 shares in the company, valued at $23,418,340. The disclosure for this sale can be found here. Over the last three months, insiders have sold 266,600 shares of company stock worth $30,935,200. Corporate insiders own 19.20% of the company’s stock.

Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of MCCORMICK & CO /SH from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine raised shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Credit Suisse Group upped their price target on shares of MCCORMICK & CO /SH from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, June 29th. Citigroup upped their price target on shares of MCCORMICK & CO /SH from $114.00 to $117.00 and gave the company a “neutral” rating in a report on Friday, June 29th. Finally, Vertical Group lowered shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a report on Friday, June 29th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. MCCORMICK & CO /SH presently has an average rating of “Hold” and an average target price of $114.25.

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 through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

Further Reading: Compound Annual Growth Rate (CAGR)

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

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