Bridges Investment Management Inc. Grows Stock Holdings in MCCORMICK & CO /SH NV (NYSE:MKC)

Bridges Investment Management Inc. raised its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,040 shares of the company’s stock after acquiring an additional 225 shares during the quarter. Bridges Investment Management Inc.’s holdings in MCCORMICK & CO /SH were worth $1,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in MKC. Ilmarinen Mutual Pension Insurance Co bought a new stake in MCCORMICK & CO /SH during the third quarter worth approximately $1,969,000. Colony Group LLC raised its holdings in MCCORMICK & CO /SH by 2.4% during the third quarter. Colony Group LLC now owns 69,382 shares of the company’s stock worth $10,844,000 after purchasing an additional 1,629 shares in the last quarter. Voya Investment Management LLC raised its holdings in MCCORMICK & CO /SH by 1.6% during the third quarter. Voya Investment Management LLC now owns 65,417 shares of the company’s stock worth $10,225,000 after purchasing an additional 1,019 shares in the last quarter. Voya Financial Advisors Inc. raised its holdings in MCCORMICK & CO /SH by 5.1% during the third quarter. Voya Financial Advisors Inc. now owns 2,304 shares of the company’s stock worth $361,000 after purchasing an additional 112 shares in the last quarter. Finally, State Street Corp raised its holdings in MCCORMICK & CO /SH by 1.3% during the third quarter. State Street Corp now owns 6,810,527 shares of the company’s stock worth $1,064,485,000 after purchasing an additional 85,607 shares in the last quarter. Institutional investors own 77.84% of the company’s stock.

Several brokerages recently commented on MKC. UBS Group cut MCCORMICK & CO /SH from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $175.00 to $140.00 in a report on Thursday, March 19th. Credit Suisse Group cut their price objective on MCCORMICK & CO /SH from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Deutsche Bank decreased their target price on MCCORMICK & CO /SH from $163.00 to $139.00 and set a “hold” rating on the stock in a report on Wednesday. Jefferies Financial Group reaffirmed a “sell” rating and set a $150.00 target price on shares of MCCORMICK & CO /SH in a research report on Tuesday, January 28th. Finally, Goldman Sachs Group downgraded MCCORMICK & CO /SH from a “neutral” rating to a “sell” rating and set a $140.00 target price for the company. in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $149.00.

MKC stock opened at $124.19 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.72 and a quick ratio of 0.35. The firm has a market capitalization of $16.60 billion, a P/E ratio of 23.66, a P/E/G ratio of 4.57 and a beta of 0.22. MCCORMICK & CO /SH NV has a 52-week low of $112.22 and a 52-week high of $174.58. The company’s 50 day simple moving average is $150.39 and its 200-day simple moving average is $161.48.

MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.61 earnings per share for the quarter, hitting the consensus estimate of $1.61. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.52 billion. MCCORMICK & CO /SH had a net margin of 13.14% and a return on equity of 21.00%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 EPS. Sell-side analysts predict that MCCORMICK & CO /SH NV will post 5.24 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for MCCORMICK & CO /SH (NYSE:MKC)

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