grace capital acquired a new position in MCCORMICK & CO /SH NV (NYSE:MKC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,000 shares of the company’s stock, valued at approximately $348,000.
Several other hedge funds have also bought and sold shares of the company. Tiverton Asset Management LLC purchased a new position in shares of MCCORMICK & CO /SH in the 1st quarter worth approximately $105,000. Itau Unibanco Holding S.A. purchased a new position in shares of MCCORMICK & CO /SH in the 2nd quarter worth approximately $111,000. Signaturefd LLC purchased a new position in shares of MCCORMICK & CO /SH in the 1st quarter worth approximately $116,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of MCCORMICK & CO /SH in the 2nd quarter worth approximately $125,000. Finally, IMS Capital Management purchased a new position in shares of MCCORMICK & CO /SH in the 2nd quarter worth approximately $128,000. 82.62% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Alan D. Wilson sold 100,000 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $125.30, for a total value of $12,530,000.00. Following the transaction, the director now owns 212,894 shares of the company’s stock, valued at $26,675,618.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Michael R. Smith sold 8,000 shares of the company’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $119.90, for a total transaction of $959,200.00. Following the completion of the transaction, the vice president now directly owns 22,759 shares in the company, valued at approximately $2,728,804.10. The disclosure for this sale can be found here. Corporate insiders own 19.20% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Vertical Group downgraded MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. They noted that the move was a valuation call. Jefferies Financial Group reiterated a “buy” rating and issued a $150.00 price objective on shares of MCCORMICK & CO /SH in a research note on Wednesday. Citigroup upped their price objective on MCCORMICK & CO /SH from $114.00 to $117.00 and gave the company a “neutral” rating in a research note on Friday, June 29th. Credit Suisse Group set a $137.00 price objective on MCCORMICK & CO /SH and gave the company a “buy” rating in a research note on Friday, September 28th. Finally, ValuEngine upgraded MCCORMICK & CO /SH from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $124.44.
MKC stock traded up $0.56 during midday trading on Friday, reaching $135.75. 823,596 shares of the company’s stock traded hands, compared to its average volume of 969,533. The stock has a market capitalization of $17.29 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.94 and a beta of 0.57. MCCORMICK & CO /SH NV has a 52 week low of $93.70 and a 52 week high of $136.24. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.79 and a quick ratio of 0.36.
MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings results on Thursday, September 27th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. MCCORMICK & CO /SH had a net margin of 16.57% and a return on equity of 21.83%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Equities research analysts anticipate that MCCORMICK & CO /SH NV will post 4.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, October 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.53%. MCCORMICK & CO /SH’s payout ratio is currently 48.83%.
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.
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