JLB & Associates Inc. Sells 516 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)

JLB & Associates Inc. decreased its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,383 shares of the company’s stock after selling 516 shares during the quarter. MCCORMICK & CO /SH makes up 4.6% of JLB & Associates Inc.’s portfolio, making the stock its 2nd largest position. JLB & Associates Inc. owned 0.11% of MCCORMICK & CO /SH worth $21,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in MKC. Kentucky Retirement Systems acquired a new stake in MCCORMICK & CO /SH during the 3rd quarter valued at approximately $751,000. Standard Life Aberdeen plc lifted its stake in MCCORMICK & CO /SH by 14.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 31,701 shares of the company’s stock valued at $4,176,000 after acquiring an additional 3,941 shares during the period. Belpointe Asset Management LLC acquired a new stake in MCCORMICK & CO /SH during the 3rd quarter valued at approximately $117,000. Vanguard Group Inc lifted its stake in MCCORMICK & CO /SH by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 13,463,310 shares of the company’s stock valued at $1,773,790,000 after acquiring an additional 79,040 shares during the period. Finally, Palo Capital Inc. acquired a new stake in MCCORMICK & CO /SH during the 3rd quarter valued at approximately $1,553,000. Institutional investors own 81.31% of the company’s stock.

In related news, VP Michael R. Smith sold 9,200 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $154.49, for a total value of $1,421,308.00. Following the completion of the sale, the vice president now owns 30,553 shares of the company’s stock, valued at $4,720,132.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christina M. Mcmullen sold 2,000 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $154.00, for a total transaction of $308,000.00. Following the completion of the sale, the vice president now directly owns 3,211 shares of the company’s stock, valued at approximately $494,494. The disclosure for this sale can be found here. Insiders sold 199,465 shares of company stock valued at $29,224,484 in the last three months. 11.00% of the stock is currently owned by insiders.

Shares of MCCORMICK & CO /SH stock traded down $1.08 during trading hours on Friday, reaching $155.19. 477,505 shares of the company’s stock were exchanged, compared to its average volume of 736,394. MCCORMICK & CO /SH NV has a 1 year low of $99.53 and a 1 year high of $157.00. The firm has a market capitalization of $20.29 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 3.65 and a beta of 0.26. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.21.

MCCORMICK & CO /SH (NYSE:MKC) last released its earnings results on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.06. MCCORMICK & CO /SH had a net margin of 12.19% and a return on equity of 21.41%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts anticipate that MCCORMICK & CO /SH NV will post 5.27 EPS for the current fiscal year.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research note on Tuesday, April 2nd. Jefferies Financial Group restated a “buy” rating and set a $150.00 price objective on shares of MCCORMICK & CO /SH in a research note on Tuesday, March 26th. Deutsche Bank upgraded shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Finally, Consumer Edge upgraded shares of MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 25th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $132.57.

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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 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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