Man Group plc Trims Stock Position in MCCORMICK & CO /SH NV (NYSE:MKC)

Man Group plc decreased its stake in MCCORMICK & CO /SH NV (NYSE:MKC) by 20.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,433 shares of the company’s stock after selling 13,331 shares during the period. Man Group plc’s holdings in MCCORMICK & CO /SH were worth $8,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MKC. WealthPLAN Partners LLC increased its position in MCCORMICK & CO /SH by 3.6% during the third quarter. WealthPLAN Partners LLC now owns 1,692 shares of the company’s stock worth $277,000 after buying an additional 59 shares during the period. ETRADE Capital Management LLC grew its position in MCCORMICK & CO /SH by 1.6% during the 2nd quarter. ETRADE Capital Management LLC now owns 4,082 shares of the company’s stock worth $633,000 after purchasing an additional 63 shares during the last quarter. HM Capital Management LLC grew its position in MCCORMICK & CO /SH by 1.6% during the 3rd quarter. HM Capital Management LLC now owns 3,883 shares of the company’s stock worth $607,000 after purchasing an additional 63 shares during the last quarter. Mason Street Advisors LLC increased its stake in MCCORMICK & CO /SH by 0.4% in the third quarter. Mason Street Advisors LLC now owns 17,531 shares of the company’s stock valued at $2,740,000 after purchasing an additional 67 shares during the period. Finally, Capital Investment Advisory Services LLC increased its stake in MCCORMICK & CO /SH by 40.0% in the second quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MCCORMICK & CO /SH stock opened at $172.18 on Friday. The company has a market cap of $22.88 billion, a P/E ratio of 34.64, a PEG ratio of 3.93 and a beta of 0.13. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.37 and a current ratio of 0.78. MCCORMICK & CO /SH NV has a one year low of $119.00 and a one year high of $172.24. The firm has a fifty day moving average of $163.54 and a two-hundred day moving average of $160.78.

MCCORMICK & CO /SH (NYSE:MKC) last issued its earnings results on Tuesday, October 1st. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.17. MCCORMICK & CO /SH had a net margin of 13.12% and a return on equity of 21.63%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts predict that MCCORMICK & CO /SH NV will post 5.38 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from MCCORMICK & CO /SH’s previous quarterly dividend of $0.57. MCCORMICK & CO /SH’s payout ratio is currently 45.88%.

In other MCCORMICK & CO /SH news, Director Michael Aaron Conway sold 5,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $168.59, for a total value of $842,950.00. Following the completion of the sale, the director now owns 9,501 shares of the company’s stock, valued at $1,601,773.59. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Lisa Manzone sold 2,800 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $167.05, for a total transaction of $467,740.00. Following the sale, the vice president now owns 11,260 shares in the company, valued at $1,880,983. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Several brokerages have recently weighed in on MKC. JPMorgan Chase & Co. downgraded shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $154.00 to $150.00 in a research note on Tuesday, August 20th. Credit Suisse Group boosted their price target on MCCORMICK & CO /SH from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, ValuEngine downgraded MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. MCCORMICK & CO /SH currently has a consensus rating of “Hold” and a consensus target price 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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