Cooper Haims Advisors LLC purchased a new stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,531 shares of the company’s stock, valued at approximately $1,737,000.
Other institutional investors have also recently made changes to their positions in the company. Fruth Investment Management lifted its holdings in shares of MCCORMICK & CO /SH by 1.8% during the first quarter. Fruth Investment Management now owns 21,465 shares of the company’s stock worth $3,233,000 after purchasing an additional 375 shares during the period. Pratt Collard Advisory Partners LLC lifted its holdings in shares of MCCORMICK & CO /SH by 24.3% during the first quarter. Pratt Collard Advisory Partners LLC now owns 2,120 shares of the company’s stock worth $319,000 after purchasing an additional 415 shares during the period. Prudential PLC lifted its holdings in shares of MCCORMICK & CO /SH by 66.7% during the fourth quarter. Prudential PLC now owns 9,334 shares of the company’s stock worth $1,300,000 after purchasing an additional 3,734 shares during the period. Private Trust Co. NA lifted its holdings in MCCORMICK & CO /SH by 34.3% in the fourth quarter. Private Trust Co. NA now owns 5,662 shares of the company’s stock valued at $788,000 after acquiring an additional 1,446 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new position in MCCORMICK & CO /SH in the fourth quarter valued at approximately $448,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Shares of NYSE:MKC traded up $1.87 during midday trading on Wednesday, reaching $155.60. The company’s stock had a trading volume of 668,299 shares, compared to its average volume of 1,194,118. MCCORMICK & CO /SH NV has a 1 year low of $99.53 and a 1 year high of $157.00. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.21. The company has a market cap of $20.47 billion, a P/E ratio of 31.31, a P/E/G ratio of 3.68 and a beta of 0.26.
MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.06. MCCORMICK & CO /SH had a return on equity of 21.41% and a net margin of 12.19%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts expect that MCCORMICK & CO /SH NV will post 5.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Friday, April 5th. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 45.88%.
In other MCCORMICK & CO /SH news, VP Christina M. Mcmullen sold 2,000 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $154.00, for a total transaction of $308,000.00. Following the transaction, the vice president now owns 3,211 shares in the company, valued at $494,494. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Michael R. Smith sold 9,200 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $154.49, for a total value of $1,421,308.00. Following the transaction, the vice president now owns 30,553 shares in the company, valued at approximately $4,720,132.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,600 shares of company stock valued at $28,628,076. 11.00% of the stock is owned by company insiders.
A number of brokerages have issued reports on MKC. Zacks Investment Research raised MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price target for the company in a report on Tuesday, April 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $150.00 price target on shares of MCCORMICK & CO /SH in a report on Tuesday, March 26th. Consumer Edge upgraded MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 25th. Finally, Deutsche Bank raised MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $132.57.
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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 in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
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