MCCORMICK & CO /SH NV (MKC) Shares Bought by Charter Trust Co.

Charter Trust Co. increased its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 26.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,781 shares of the company’s stock after acquiring an additional 1,402 shares during the period. Charter Trust Co.’s holdings in MCCORMICK & CO /SH were worth $894,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. South State Corp lifted its holdings in shares of MCCORMICK & CO /SH by 18.1% in the third quarter. South State Corp now owns 2,233 shares of the company’s stock valued at $294,000 after purchasing an additional 343 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in shares of MCCORMICK & CO /SH by 3.2% in the third quarter. Harbour Capital Advisors LLC now owns 11,872 shares of the company’s stock valued at $1,564,000 after purchasing an additional 370 shares in the last quarter. Profit Investment Management LLC lifted its holdings in shares of MCCORMICK & CO /SH by 3.7% in the third quarter. Profit Investment Management LLC now owns 11,284 shares of the company’s stock valued at $1,486,000 after purchasing an additional 398 shares in the last quarter. ST Germain D J Co. Inc. lifted its holdings in shares of MCCORMICK & CO /SH by 16.0% in the second quarter. ST Germain D J Co. Inc. now owns 3,015 shares of the company’s stock valued at $350,000 after purchasing an additional 415 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of MCCORMICK & CO /SH by 7.8% in the third quarter. Steward Partners Investment Advisory LLC now owns 5,746 shares of the company’s stock valued at $757,000 after purchasing an additional 415 shares in the last quarter. 77.84% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MKC opened at $150.39 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.79 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $19.96 billion, a PE ratio of 31.33, a PEG ratio of 3.13 and a beta of 0.36. MCCORMICK & CO /SH NV has a 1-year low of $98.34 and a 1-year high of $154.32.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 14th. Stockholders of record on Monday, December 31st will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, December 28th. This is a positive change from MCCORMICK & CO /SH’s previous quarterly dividend of $0.52. MCCORMICK & CO /SH’s payout ratio is currently 48.83%.

Several analysts have issued reports on the stock. Credit Suisse Group reaffirmed a “neutral” rating and issued a $150.00 price target (up previously from $137.00) on shares of MCCORMICK & CO /SH in a report on Friday, November 9th. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $168.00 price target on the stock in a report on Monday, December 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $150.00 price target on shares of MCCORMICK & CO /SH in a report on Wednesday, October 3rd. Barclays reaffirmed a “hold” rating and issued a $129.00 price target on shares of MCCORMICK & CO /SH in a report on Sunday, September 30th. Finally, UBS Group set a $130.00 price target on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. MCCORMICK & CO /SH currently has a consensus rating of “Hold” and an average target price of $131.67.

In other news, major shareholder Alan D. Wilson sold 111,000 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $140.59, for a total value of $15,605,490.00. Following the completion of the transaction, the insider now owns 218,644 shares of the company’s stock, valued at $30,739,159.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Michael R. Smith sold 7,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $142.59, for a total transaction of $1,026,648.00. Following the completion of the transaction, the vice president now directly owns 23,959 shares of the company’s stock, valued at approximately $3,416,313.81. The disclosure for this sale can be found here. In the last three months, insiders sold 217,200 shares of company stock valued at $30,747,866. Company insiders own 19.20% of the company’s stock.

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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 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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