Stratos Wealth Partners LTD. grew its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 0.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 26,753 shares of the company’s stock after acquiring an additional 225 shares during the period. Stratos Wealth Partners LTD.’s holdings in MCCORMICK & CO /SH were worth $4,030,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fruth Investment Management increased its stake in MCCORMICK & CO /SH by 1.8% during the first quarter. Fruth Investment Management now owns 21,465 shares of the company’s stock worth $3,233,000 after acquiring an additional 375 shares during the last quarter. Pratt Collard Advisory Partners LLC grew its stake in shares of MCCORMICK & CO /SH by 24.3% during the first quarter. Pratt Collard Advisory Partners LLC now owns 2,120 shares of the company’s stock valued at $319,000 after buying an additional 415 shares during the last quarter. Prudential PLC grew its stake in shares of MCCORMICK & CO /SH by 66.7% during the fourth quarter. Prudential PLC now owns 9,334 shares of the company’s stock valued at $1,300,000 after buying an additional 3,734 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of MCCORMICK & CO /SH during the fourth quarter valued at approximately $448,000. Finally, McCollum Christoferson Group LLC grew its stake in shares of MCCORMICK & CO /SH by 0.5% during the first quarter. McCollum Christoferson Group LLC now owns 35,836 shares of the company’s stock valued at $5,398,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
Shares of NYSE MKC traded up $1.01 during trading hours on Thursday, reaching $156.02. The stock had a trading volume of 5,342 shares, compared to its average volume of 1,224,890. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.34 and a current ratio of 0.78. The firm has a market capitalization of $20.33 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 3.25 and a beta of 0.26. MCCORMICK & CO /SH NV has a 52-week low of $99.53 and a 52-week high of $157.00.
MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. MCCORMICK & CO /SH had a return on equity of 21.41% and a net margin of 12.19%. MCCORMICK & CO /SH’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. Analysts forecast that MCCORMICK & CO /SH NV will post 5.27 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.57 dividend. The ex-dividend date was Friday, April 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.46%. MCCORMICK & CO /SH’s payout ratio is 45.88%.
MKC has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $150.00 target price on shares of MCCORMICK & CO /SH in a research note on Monday, January 28th. Consumer Edge raised MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 25th. Deutsche Bank raised MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Finally, Zacks Investment Research raised MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research note on Tuesday, April 2nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. MCCORMICK & CO /SH has an average rating of “Hold” and an average price target of $132.57.
In related news, major shareholder Alan D. Wilson sold 94,400 shares of the business’s stock in a transaction that occurred on 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 owns 206,553 shares in the company, valued at $31,286,582.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael R. Smith sold 9,200 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $154.49, for a total value 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 disclosure for this sale can be found here. Insiders sold 195,600 shares of company stock valued at $28,628,076 in the last quarter. 11.00% of the stock is owned by company insiders.
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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.
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