MCCORMICK & CO /SH NV (MKC) Stake Raised by Comerica Securities Inc.

Comerica Securities Inc. raised its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 132.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,096 shares of the company’s stock after buying an additional 3,479 shares during the quarter. Comerica Securities Inc.’s holdings in MCCORMICK & CO /SH were worth $803,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in MCCORMICK & CO /SH by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 339,013 shares of the company’s stock worth $36,067,000 after acquiring an additional 11,533 shares in the last quarter. DnB Asset Management AS grew its holdings in MCCORMICK & CO /SH by 3.8% during the 2nd quarter. DnB Asset Management AS now owns 18,919 shares of the company’s stock worth $2,196,000 after acquiring an additional 700 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in MCCORMICK & CO /SH by 58.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 5,456 shares of the company’s stock worth $633,000 after acquiring an additional 2,012 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in MCCORMICK & CO /SH by 6.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 45,851 shares of the company’s stock worth $5,321,000 after acquiring an additional 2,830 shares in the last quarter. Finally, Fenimore Asset Management Inc. grew its holdings in MCCORMICK & CO /SH by 22.0% during the 2nd quarter. Fenimore Asset Management Inc. now owns 72,919 shares of the company’s stock worth $8,465,000 after acquiring an additional 13,159 shares in the last quarter. Hedge funds and other institutional investors own 80.37% of the company’s stock.

NYSE MKC opened at $151.34 on Friday. MCCORMICK & CO /SH NV has a one year low of $95.38 and a one year high of $151.42. The company has a quick ratio of 0.36, a current ratio of 0.79 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $19.55 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 3.30 and a beta of 0.34.

MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings results on Thursday, September 27th. The company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.01. MCCORMICK & CO /SH had a net margin of 16.57% and a return on equity of 21.83%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $1.12 EPS. The company’s quarterly revenue was up 13.5% on a year-over-year basis. Equities analysts forecast that MCCORMICK & CO /SH NV will post 4.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Friday, October 5th. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 48.83%.

Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Barclays reissued a “hold” rating and set a $129.00 price objective on shares of MCCORMICK & CO /SH in a report on Sunday, September 30th. UBS Group set a $130.00 price objective on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a report on Friday, September 28th. Jefferies Financial Group reissued a “buy” rating and set a $150.00 price objective on shares of MCCORMICK & CO /SH in a report on Wednesday, October 3rd. Finally, Credit Suisse Group set a $137.00 price target on shares of MCCORMICK & CO /SH and gave the company a “buy” rating in a report on Friday, September 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $124.44.

In other news, VP Lisa Manzone sold 9,600 shares of MCCORMICK & CO /SH stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $144.63, for a total value of $1,388,448.00. Following the completion of the transaction, the vice president now directly owns 8,345 shares of the company’s stock, valued at approximately $1,206,937.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan D. Wilson sold 100,000 shares of MCCORMICK & CO /SH 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 completion of the transaction, the director now directly owns 212,894 shares of the company’s stock, valued at $26,675,618.20. The disclosure for this sale can be found here. Insiders sold a total of 316,800 shares of company stock valued at $43,218,890 over the last ninety days. Company insiders own 19.20% of the company’s stock.

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MCCORMICK & CO /SH Company 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.

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

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