American International Group Inc. decreased its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,589 shares of the company’s stock after selling 141 shares during the quarter. American International Group Inc.’s holdings in MCCORMICK & CO /SH were worth $7,620,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fruth Investment Management raised its stake in shares of MCCORMICK & CO /SH by 1.8% in the first quarter. Fruth Investment Management now owns 21,465 shares of the company’s stock valued at $3,233,000 after purchasing an additional 375 shares in the last quarter. Pratt Collard Advisory Partners LLC raised its stake in shares of MCCORMICK & CO /SH by 24.3% in the first quarter. Pratt Collard Advisory Partners LLC now owns 2,120 shares of the company’s stock valued at $319,000 after purchasing an additional 415 shares in the last quarter. Prudential PLC raised its stake in shares of MCCORMICK & CO /SH by 66.7% in the fourth quarter. Prudential PLC now owns 9,334 shares of the company’s stock valued at $1,300,000 after purchasing an additional 3,734 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of MCCORMICK & CO /SH in the fourth quarter valued at $448,000. Finally, McCollum Christoferson Group LLC raised its stake in shares of MCCORMICK & CO /SH by 0.5% in the first quarter. McCollum Christoferson Group LLC now owns 35,836 shares of the company’s stock valued at $5,398,000 after purchasing an additional 173 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on MKC. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 target price for the company in a research note on Thursday, May 30th. Jefferies Financial Group restated a “buy” rating and issued a $150.00 target price on shares of MCCORMICK & CO /SH in a research note on Tuesday, March 26th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $131.43.
In other news, major shareholder Alan D. Wilson sold 90,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $140.00, for a total transaction of $12,600,000.00. 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 stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $151.47, for a total value of $14,298,768.00. Following the sale, the insider now owns 206,553 shares in the company, valued at approximately $31,286,582.91. The disclosure for this sale can be found here. Insiders have sold 199,465 shares of company stock worth $29,224,484 in the last 90 days. Company insiders own 11.00% of the company’s stock.
MCCORMICK & CO /SH stock traded down $0.25 during mid-day trading on Friday, hitting $156.60. 343,878 shares of the company were exchanged, compared to its average volume of 1,131,496. 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 NV has a 1-year low of $104.53 and a 1-year high of $159.57. The firm has a market capitalization of $20.72 billion, a P/E ratio of 31.51, a P/E/G ratio of 3.73 and a beta of 0.24.
MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. MCCORMICK & CO /SH had a return on equity of 21.41% and a net margin of 12.19%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 earnings per share. On average, equities research analysts predict that MCCORMICK & CO /SH NV will post 5.27 EPS for the current fiscal year.
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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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