Ossiam trimmed its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 8.9% during the second quarter, HoldingsChannel reports. The fund owned 4,838 shares of the company’s stock after selling 472 shares during the period. Ossiam’s holdings in MCCORMICK & CO /SH were worth $750,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of MCCORMICK & CO /SH by 2.6% in the first quarter. BlackRock Inc. now owns 10,738,844 shares of the company’s stock worth $1,617,593,000 after purchasing an additional 275,507 shares in the last quarter. Fundsmith LLP increased its stake in MCCORMICK & CO /SH by 93.6% in the 1st quarter. Fundsmith LLP now owns 5,204,584 shares of the company’s stock valued at $783,966,000 after buying an additional 2,515,590 shares during the last quarter. Clearbridge Investments LLC lifted its position in MCCORMICK & CO /SH by 4.9% during the 1st quarter. Clearbridge Investments LLC now owns 2,039,349 shares of the company’s stock worth $307,187,000 after buying an additional 94,527 shares in the last quarter. Geode Capital Management LLC lifted its position in MCCORMICK & CO /SH by 15.9% during the 4th quarter. Geode Capital Management LLC now owns 1,800,426 shares of the company’s stock worth $250,306,000 after buying an additional 247,249 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of MCCORMICK & CO /SH by 7.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,454,501 shares of the company’s stock worth $225,454,000 after buying an additional 102,387 shares during the last quarter. 80.19% of the stock is currently owned by institutional investors and hedge funds.
NYSE MKC traded up $1.91 on Wednesday, hitting $157.91. 18,167 shares of the stock were exchanged, compared to its average volume of 801,341. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.79 and a quick ratio of 0.35. The business’s fifty day moving average is $162.56 and its 200 day moving average is $154.21. MCCORMICK & CO /SH NV has a 52 week low of $119.00 and a 52 week high of $171.10. The company has a market capitalization of $21.36 billion, a PE ratio of 31.81, a P/E/G ratio of 3.80 and a beta of 0.16.
MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 27th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. MCCORMICK & CO /SH had a net margin of 12.73% and a return on equity of 21.42%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $1.02 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Analysts predict that MCCORMICK & CO /SH NV will post 5.3 EPS for the current fiscal year.
Several brokerages have recently weighed in on MKC. UBS Group set a $155.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. JPMorgan Chase & Co. lowered MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $154.00 to $150.00 in a report on Tuesday, August 20th. Citigroup upped their target price on MCCORMICK & CO /SH from $155.00 to $166.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Zacks Investment Research raised MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price target for the company in a research report on Thursday, May 30th. Finally, Deutsche Bank set a $142.00 price target on MCCORMICK & CO /SH and gave the company a “hold” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $142.89.
In related news, VP Michael R. Smith sold 9,100 shares of MCCORMICK & CO /SH stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $160.84, for a total transaction of $1,463,644.00. Following the completion of the transaction, the vice president now owns 30,453 shares in the company, valued at $4,898,060.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Nneka Louise Rimmer sold 2,070 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $154.02, for a total value of $318,821.40. Following the transaction, the vice president now directly owns 6,209 shares in the company, valued at approximately $956,310.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,272 shares of company stock worth $7,197,181. 11.00% of the stock is owned by 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 in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
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