MCCORMICK & CO /SH NV (MKC) Stake Lowered by TCW Group Inc.

TCW Group Inc. reduced its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 22.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,795 shares of the company’s stock after selling 3,685 shares during the quarter. TCW Group Inc.’s holdings in MCCORMICK & CO /SH were worth $1,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Profit Investment Management LLC lifted its holdings in shares of MCCORMICK & CO /SH by 3.7% in the 3rd quarter. Profit Investment Management LLC now owns 11,284 shares of the company’s stock valued at $1,486,000 after buying an additional 398 shares during the period. ST Germain D J Co. Inc. lifted its holdings in shares of MCCORMICK & CO /SH by 16.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 3,015 shares of the company’s stock valued at $350,000 after buying an additional 415 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of MCCORMICK & CO /SH by 7.8% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 5,746 shares of the company’s stock valued at $757,000 after buying an additional 415 shares during the period. Harbour Capital Advisors LLC lifted its holdings in shares of MCCORMICK & CO /SH by 3.8% in the 2nd quarter. Harbour Capital Advisors LLC now owns 11,502 shares of the company’s stock valued at $1,331,000 after buying an additional 425 shares during the period. Finally, Howland Capital Management LLC lifted its holdings in shares of MCCORMICK & CO /SH by 0.4% in the 3rd quarter. Howland Capital Management LLC now owns 123,191 shares of the company’s stock valued at $16,230,000 after buying an additional 465 shares during the period. 80.54% of the stock is owned by institutional investors and hedge funds.

NYSE MKC opened at $143.46 on Friday. MCCORMICK & CO /SH NV has a 1-year low of $93.70 and a 1-year high of $146.57. The company has a market capitalization of $18.96 billion, a P/E ratio of 29.75, a PEG ratio of 3.20 and a beta of 0.34. The company has a quick ratio of 0.36, a current ratio of 0.79 and a debt-to-equity ratio of 1.37.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings data on Thursday, September 27th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.01. MCCORMICK & CO /SH had a return on equity of 21.83% and a net margin of 16.57%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the business posted $1.12 EPS. MCCORMICK & CO /SH’s quarterly revenue was up 13.5% on a year-over-year basis. On average, equities research analysts expect that MCCORMICK & CO /SH NV will post 4.99 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 23rd. Shareholders of record on Tuesday, October 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Friday, October 5th. MCCORMICK & CO /SH’s payout ratio is 48.83%.

Several equities analysts recently weighed in on MKC shares. UBS Group set a $130.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a research note on Friday, September 28th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $150.00 price objective on shares of MCCORMICK & CO /SH in a research note on Wednesday, October 3rd. Credit Suisse Group set a $137.00 price objective on MCCORMICK & CO /SH and gave the company a “buy” rating in a research note on Friday, September 28th. Stifel Nicolaus raised their price objective on MCCORMICK & CO /SH from $117.00 to $125.00 and gave the company a “hold” rating in a research note on Friday, September 28th. Finally, Zacks Investment Research downgraded MCCORMICK & CO /SH from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $124.44.

In other MCCORMICK & CO /SH news, Chairman Lawrence Erik Kurzius sold 51,300 shares of the firm’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $142.01, for a total transaction of $7,285,113.00. Following the completion of the transaction, the chairman now owns 114,459 shares of the company’s stock, valued at $16,254,322.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Malcolm Swift sold 27,700 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $142.33, for a total value of $3,942,541.00. Following the transaction, the insider now directly owns 14,810 shares of the company’s stock, valued at approximately $2,107,907.30. The disclosure for this sale can be found here. Insiders have sold 302,200 shares of company stock valued at $41,099,792 in the last three months. 19.20% of the stock is currently owned by company insiders.

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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