Robeco Institutional Asset Management B.V. decreased its position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 11.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 570,502 shares of the company’s stock after selling 72,161 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.43% of MCCORMICK & CO /SH worth $85,939,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in MCCORMICK & CO /SH by 38,047.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,051,488 shares of the company’s stock worth $36,000 after purchasing an additional 5,038,246 shares during the last quarter. Fundsmith LLP bought a new stake in shares of MCCORMICK & CO /SH during the fourth quarter valued at approximately $348,961,000. Norges Bank bought a new stake in shares of MCCORMICK & CO /SH during the fourth quarter valued at approximately $137,744,000. BlackRock Inc. raised its stake in shares of MCCORMICK & CO /SH by 9.9% during the fourth quarter. BlackRock Inc. now owns 10,463,337 shares of the company’s stock valued at $1,456,918,000 after acquiring an additional 943,361 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of MCCORMICK & CO /SH by 62.7% during the first quarter. Janus Henderson Group PLC now owns 1,352,114 shares of the company’s stock valued at $203,669,000 after acquiring an additional 520,816 shares in the last quarter. Hedge funds and other institutional investors own 80.02% of the company’s stock.
In other MCCORMICK & CO /SH news, Director Margaret M. V. Preston sold 3,865 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $154.31, for a total value of $596,408.15. Following the completion of the transaction, the director now owns 30,674 shares in the company, valued at $4,733,304.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Alan D. Wilson sold 94,400 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $151.47, for a total transaction of $14,298,768.00. Following the completion of the transaction, the insider now owns 206,553 shares of the company’s stock, valued at approximately $31,286,582.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 199,465 shares of company stock valued at $29,224,484. Insiders own 11.00% of the company’s stock.
Shares of MKC traded up $0.13 during trading hours on Wednesday, reaching $153.01. 720,400 shares of the company traded hands, compared to its average volume of 1,187,518. The firm has a market capitalization of $20.49 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 3.68 and a beta of 0.26. MCCORMICK & CO /SH NV has a 12-month low of $99.53 and a 12-month high of $157.00. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.78 and a quick ratio of 0.34.
MCCORMICK & CO /SH (NYSE:MKC) last posted its earnings results on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. MCCORMICK & CO /SH had a net margin of 12.19% and a return on equity of 21.41%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. As a group, research analysts anticipate that MCCORMICK & CO /SH NV will post 5.27 EPS for the current fiscal year.
Several brokerages recently issued reports on MKC. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a report on Tuesday, April 2nd. Jefferies Financial Group reissued a “buy” rating and set a $150.00 price objective on shares of MCCORMICK & CO /SH in a report on Tuesday, March 26th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $132.57.
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.
Featured Story: Why is Cost of Capital Important?
Receive News & Ratings for MCCORMICK & CO /SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MCCORMICK & CO /SH and related companies with MarketBeat.com's FREE daily email newsletter.