Westwood Holdings Group Inc. lowered its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,633 shares of the company’s stock after selling 1,035 shares during the quarter. Westwood Holdings Group Inc.’s holdings in MCCORMICK & CO /SH were worth $8,531,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in MKC. Oregon Public Employees Retirement Fund increased its position in shares of MCCORMICK & CO /SH by 38,047.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,051,488 shares of the company’s stock valued at $36,000 after buying an additional 5,038,246 shares in the last quarter. Fundsmith LLP purchased a new stake in MCCORMICK & CO /SH during the 4th quarter worth about $348,961,000. Norges Bank purchased a new stake in MCCORMICK & CO /SH during the 4th quarter worth about $137,744,000. BlackRock Inc. increased its position in MCCORMICK & CO /SH by 9.9% during the 4th quarter. BlackRock Inc. now owns 10,463,337 shares of the company’s stock worth $1,456,918,000 after purchasing an additional 943,361 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in MCCORMICK & CO /SH by 62.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,352,114 shares of the company’s stock worth $203,669,000 after purchasing an additional 520,816 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.
MCCORMICK & CO /SH stock traded up $0.38 during midday trading on Friday, reaching $157.23. 159,999 shares of the company were exchanged, compared to its average volume of 705,517. The stock has a market cap of $20.72 billion, a PE ratio of 31.64, a P/E/G ratio of 3.73 and a beta of 0.24. MCCORMICK & CO /SH NV has a 1 year low of $104.22 and a 1 year high of $159.57. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.21.
MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. MCCORMICK & CO /SH had a return on equity of 21.41% and a net margin of 12.19%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company earned $1.00 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts predict that MCCORMICK & CO /SH NV will post 5.27 EPS for the current year.
In other MCCORMICK & CO /SH news, Director Margaret M. V. Preston sold 3,865 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $154.31, for a total value of $596,408.15. Following the sale, the director now directly owns 30,674 shares of the company’s stock, valued at approximately $4,733,304.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Alan D. Wilson sold 94,400 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 206,553 shares in the company, valued at $31,286,582.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,465 shares of company stock worth $29,224,484. 11.00% of the stock is owned by corporate insiders.
A number of research firms recently commented on MKC. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price objective for the company in a research report on Thursday, May 30th. Jefferies Financial Group reiterated a “buy” rating and set a $150.00 price objective on shares of MCCORMICK & CO /SH in a research report on Tuesday, March 26th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. MCCORMICK & CO /SH presently has a consensus rating of “Hold” and an average target price of $131.43.
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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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