Shell Asset Management Co. Sells 3,736 Shares of MCCORMICK & CO /SH NV (MKC)

Shell Asset Management Co. trimmed its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 126,601 shares of the company’s stock after selling 3,736 shares during the quarter. Shell Asset Management Co.’s holdings in MCCORMICK & CO /SH were worth $16,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stevens Capital Management LP bought a new position in shares of MCCORMICK & CO /SH in the second quarter worth approximately $3,545,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of MCCORMICK & CO /SH in the second quarter worth approximately $3,537,000. Victory Capital Management Inc. boosted its position in shares of MCCORMICK & CO /SH by 13.1% in the second quarter. Victory Capital Management Inc. now owns 34,358 shares of the company’s stock worth $3,989,000 after purchasing an additional 3,984 shares during the period. ST Germain D J Co. Inc. boosted its position in shares of MCCORMICK & CO /SH by 16.0% in the second quarter. ST Germain D J Co. Inc. now owns 3,015 shares of the company’s stock worth $350,000 after purchasing an additional 415 shares during the period. Finally, Three Peaks Capital Management LLC bought a new position in shares of MCCORMICK & CO /SH in the third quarter worth approximately $3,240,000. Institutional investors and hedge funds own 79.19% of the company’s stock.

Several equities analysts have recently commented on MKC shares. Stifel Nicolaus boosted their target price on shares of MCCORMICK & CO /SH from $117.00 to $125.00 and gave the stock a “hold” rating in a report on Friday, September 28th. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Credit Suisse Group set a $137.00 target price on shares of MCCORMICK & CO /SH and gave the stock a “buy” rating in a report on Friday, September 28th. Jefferies Financial Group set a $135.00 target price on shares of MCCORMICK & CO /SH and gave the stock a “buy” rating in a report on Thursday, September 27th. Finally, UBS Group set a $130.00 target price on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $125.89.

MKC stock opened at $145.18 on Friday. MCCORMICK & CO /SH NV has a one year low of $98.34 and a one year high of $151.42. The company has a current ratio of 0.79, a quick ratio of 0.36 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $19.11 billion, a PE ratio of 34.08, a P/E/G ratio of 3.23 and a beta of 0.34.

MCCORMICK & CO /SH (NYSE:MKC) last released its earnings results on Thursday, September 27th. The company reported $1.28 EPS for the quarter, topping the 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 firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts predict that MCCORMICK & CO /SH NV will post 4.99 EPS for the current year.

In related news, VP Christina M. Mcmullen sold 400 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $147.44, for a total transaction of $58,976.00. Following the sale, the vice president now owns 624 shares of the company’s stock, valued at $92,002.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Alan D. Wilson sold 111,000 shares of the company’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $140.59, for a total transaction of $15,605,490.00. Following the sale, the insider now directly owns 218,644 shares in the company, valued at approximately $30,739,159.96. The disclosure for this sale can be found here. Insiders sold 217,200 shares of company stock worth $30,747,866 in the last three months. Insiders own 19.20% of the company’s stock.

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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.

Read More: Understanding each part of a balance sheet

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

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