Cognios Capital LLC Has $1.94 Million Stake in MCCORMICK & CO /SH NV (MKC)

Cognios Capital LLC decreased its position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 41.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,698 shares of the company’s stock after selling 10,590 shares during the quarter. MCCORMICK & CO /SH accounts for approximately 0.8% of Cognios Capital LLC’s portfolio, making the stock its 29th largest holding. Cognios Capital LLC’s holdings in MCCORMICK & CO /SH were worth $1,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MKC. Putnam Investments LLC grew its stake in shares of MCCORMICK & CO /SH by 23.6% during the 2nd quarter. Putnam Investments LLC now owns 2,567,422 shares of the company’s stock worth $298,052,000 after purchasing an additional 489,488 shares during the period. FMR LLC grew its stake in shares of MCCORMICK & CO /SH by 89.1% during the 2nd quarter. FMR LLC now owns 916,815 shares of the company’s stock worth $106,433,000 after purchasing an additional 431,896 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of MCCORMICK & CO /SH by 180.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 562,773 shares of the company’s stock worth $65,333,000 after purchasing an additional 361,921 shares during the period. Glenmede Trust Co. NA grew its stake in shares of MCCORMICK & CO /SH by 3,470.6% during the 2nd quarter. Glenmede Trust Co. NA now owns 352,453 shares of the company’s stock worth $40,917,000 after purchasing an additional 342,582 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of MCCORMICK & CO /SH by 5,455.8% during the 2nd quarter. First Trust Advisors LP now owns 338,960 shares of the company’s stock worth $39,350,000 after purchasing an additional 332,859 shares during the period. 80.54% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Michael R. Smith sold 7,200 shares of MCCORMICK & CO /SH stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $142.59, for a total value of $1,026,648.00. Following the sale, the vice president now owns 23,959 shares of the company’s stock, valued at approximately $3,416,313.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Lawrence Erik Kurzius sold 51,300 shares of MCCORMICK & CO /SH stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $142.01, for a total transaction of $7,285,113.00. Following the completion of the sale, the chairman now directly owns 114,459 shares in the company, valued at approximately $16,254,322.59. The disclosure for this sale can be found here. Insiders sold a total of 274,500 shares of company stock worth $37,157,251 in the last three months. 19.20% of the stock is owned by corporate insiders.

MCCORMICK & CO /SH stock opened at $145.20 on Friday. MCCORMICK & CO /SH NV has a 1 year low of $93.70 and a 1 year high of $146.57. The firm has a market capitalization of $19.06 billion, a P/E ratio of 29.91, a P/E/G ratio of 3.22 and a beta of 0.57. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.36 and a current ratio of 0.79.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings results on Thursday, September 27th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. MCCORMICK & CO /SH had a net margin of 16.57% and a return on equity of 21.83%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company earned $1.12 EPS. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, analysts forecast that MCCORMICK & CO /SH NV will post 4.99 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 23rd. Investors of record on Tuesday, October 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 5th. This represents a $2.08 dividend on an annualized basis and a yield of 1.43%. MCCORMICK & CO /SH’s dividend payout ratio is currently 48.83%.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Barclays reaffirmed a “hold” rating and set a $129.00 price objective on shares of MCCORMICK & CO /SH in a research note on Sunday, September 30th. UBS Group set a $130.00 price objective on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, September 28th. Jefferies Financial Group reissued a “buy” rating and issued a $150.00 price target on shares of MCCORMICK & CO /SH in a research note on Wednesday, October 3rd. Finally, Credit Suisse Group set a $137.00 price target on shares of MCCORMICK & CO /SH and gave the company a “buy” rating in a research note on Friday, September 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $124.44.

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 through two segments, Consumer and Industrial. 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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