Penobscot Investment Management Company Inc. lowered its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,889 shares of the company’s stock after selling 120 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in MCCORMICK & CO /SH were worth $3,548,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of MKC. Private Ocean LLC bought a new stake in MCCORMICK & CO /SH during the first quarter worth about $27,000. Winslow Evans & Crocker Inc. bought a new stake in MCCORMICK & CO /SH in the first quarter valued at approximately $36,000. Glassman Wealth Services raised its stake in MCCORMICK & CO /SH by 43.7% in the first quarter. Glassman Wealth Services now owns 240 shares of the company’s stock valued at $36,000 after buying an additional 73 shares during the period. Ascent Wealth Partners LLC acquired a new position in shares of MCCORMICK & CO /SH in the first quarter valued at approximately $41,000. Finally, Farmers National Bank acquired a new position in shares of MCCORMICK & CO /SH in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 79.22% of the company’s stock.
In other MCCORMICK & CO /SH news, VP Michael R. Smith sold 9,100 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $160.84, for a total transaction of $1,463,644.00. Following the completion of the sale, the vice president now directly owns 30,453 shares in the company, valued at $4,898,060.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacques Tapiero sold 2,500 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $169.21, for a total value of $423,025.00. Following the sale, the director now owns 10,868 shares of the company’s stock, valued at $1,838,974.28. The disclosure for this sale can be found here. Insiders have sold 17,535 shares of company stock worth $2,801,899 in the last three months. 11.00% of the stock is currently owned by company insiders.
Several equities analysts have recently commented on MKC shares. Deutsche Bank set a $142.00 target price on MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. Zacks Investment Research raised MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 target price on the stock in a research report on Thursday, May 30th. UBS Group set a $155.00 target price on MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. upped their target price on MCCORMICK & CO /SH from $143.00 to $148.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Finally, Citigroup upped their target price on MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $142.67.
NYSE:MKC traded down $0.37 during trading hours on Friday, reaching $168.64. 449,399 shares of the company were exchanged, compared to its average volume of 770,216. The company has a market capitalization of $22.15 billion, a P/E ratio of 33.93, a P/E/G ratio of 3.94 and a beta of 0.18. MCCORMICK & CO /SH NV has a 1-year low of $119.00 and a 1-year high of $170.09. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.79 and a quick ratio of 0.35. The business has a 50 day moving average of $159.94 and a 200 day moving average of $149.87.
MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings results on Thursday, June 27th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.07. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. MCCORMICK & CO /SH had a return on equity of 21.42% and a net margin of 12.73%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 earnings per share. As a group, equities research analysts anticipate that MCCORMICK & CO /SH NV will post 5.3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Friday, July 5th. MCCORMICK & CO /SH’s dividend payout ratio is currently 45.88%.
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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