Hancock Whitney Corp grew its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 3.0% in the 1st quarter, Holdings Channel reports. The firm owned 7,910 shares of the company’s stock after acquiring an additional 232 shares during the period. Hancock Whitney Corp’s holdings in MCCORMICK & CO /SH were worth $1,192,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in MKC. O Shaughnessy Asset Management LLC purchased a new position in MCCORMICK & CO /SH in the 4th quarter worth approximately $26,000. Private Ocean LLC purchased a new position in MCCORMICK & CO /SH in the 1st quarter worth approximately $27,000. JNBA Financial Advisors purchased a new position in MCCORMICK & CO /SH in the 4th quarter worth approximately $28,000. Oregon Public Employees Retirement Fund raised its holdings in MCCORMICK & CO /SH by 38,047.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,051,488 shares of the company’s stock worth $36,000 after acquiring an additional 5,038,246 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. purchased a new position in MCCORMICK & CO /SH in the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.
In other news, VP Michael R. Smith sold 9,200 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $154.49, for a total transaction of $1,421,308.00. Following the completion of the sale, the vice president now owns 30,553 shares of the company’s stock, valued at approximately $4,720,132.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Alan D. Wilson sold 90,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $140.00, for a total transaction of $12,600,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,465 shares of company stock valued at $29,224,484. Company insiders own 11.00% of the company’s stock.
Shares of MKC opened at $156.60 on Friday. The firm has a market cap of $20.71 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 3.72 and a beta of 0.24. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.21. MCCORMICK & CO /SH NV has a 1-year low of $104.53 and a 1-year high of $159.57.
MCCORMICK & CO /SH (NYSE:MKC) last announced its earnings results on Tuesday, March 26th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. MCCORMICK & CO /SH had a net margin of 12.19% and a return on equity of 21.41%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. Sell-side analysts expect that MCCORMICK & CO /SH NV will post 5.27 earnings per share for the current year.
A number of equities analysts recently weighed in on MKC shares. Jefferies Financial Group restated a “buy” rating and issued a $150.00 price objective on shares of MCCORMICK & CO /SH in a report on Tuesday, March 26th. Zacks Investment Research upgraded shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a research note on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. MCCORMICK & CO /SH presently has an average rating of “Hold” and an average target price of $131.43.
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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 in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
Further Reading: Quiet Period
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