MCCORMICK & Co/SH SH NV (MKC) Holdings Cut by State Board of Administration of Florida Retirement System

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State Board of Administration of Florida Retirement System decreased its stake in shares of MCCORMICK & Co/SH SH NV (NYSE:MKC) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,438 shares of the company’s stock after selling 12,131 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.13% of MCCORMICK & Co/SH SH NV worth $19,438,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Tiverton Asset Management LLC acquired a new position in MCCORMICK & Co/SH SH NV during the 1st quarter valued at approximately $105,000. Signaturefd LLC acquired a new position in MCCORMICK & Co/SH SH NV during the 1st quarter valued at approximately $116,000. IMS Capital Management acquired a new position in MCCORMICK & Co/SH SH NV during the 2nd quarter valued at approximately $128,000. Squar Milner Financial Services LLC acquired a new position in MCCORMICK & Co/SH SH NV during the 2nd quarter valued at approximately $135,000. Finally, Smithfield Trust Co. increased its stake in MCCORMICK & Co/SH SH NV by 219.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,736 shares of the company’s stock valued at $202,000 after purchasing an additional 1,192 shares in the last quarter. Institutional investors and hedge funds own 79.36% of the company’s stock.

In other news, Director Alan D. Wilson sold 158,600 shares of the company’s stock in a transaction on Thursday, June 28th. The shares were sold at an average price of $110.00, for a total value of $17,446,000.00. Following the sale, the director now directly owns 212,894 shares of the company’s stock, valued at approximately $23,418,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael R. Smith sold 8,000 shares of the company’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $119.90, for a total transaction of $959,200.00. Following the completion of the sale, the vice president now directly owns 22,759 shares in the company, valued at $2,728,804.10. The disclosure for this sale can be found here. Insiders sold a total of 266,600 shares of company stock worth $30,935,200 over the last ninety days. Insiders own 19.20% of the company’s stock.

A number of brokerages have issued reports on MKC. Zacks Investment Research upgraded shares of MCCORMICK & Co/SH SH NV from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Credit Suisse Group upped their price objective on shares of MCCORMICK & Co/SH SH NV from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, June 29th. ValuEngine raised shares of MCCORMICK & Co/SH SH NV from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Citigroup upped their price objective on shares of MCCORMICK & Co/SH SH NV from $114.00 to $117.00 and gave the company a “neutral” rating in a report on Friday, June 29th. Finally, Vertical Group downgraded shares of MCCORMICK & Co/SH SH NV from a “buy” rating to a “hold” rating in a report on Friday, June 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $114.25.

MKC stock opened at $126.40 on Friday. The firm has a market capitalization of $15.88 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 2.71 and a beta of 0.57. The company has a current ratio of 0.85, a quick ratio of 0.42 and a debt-to-equity ratio of 1.47. MCCORMICK & Co/SH SH NV has a 12 month low of $93.70 and a 12 month high of $126.54.

MCCORMICK & Co/SH SH NV (NYSE:MKC) last released its quarterly earnings data on Thursday, June 28th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.93 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. MCCORMICK & Co/SH SH NV had a net margin of 15.83% and a return on equity of 21.98%. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. research analysts expect that MCCORMICK & Co/SH SH NV will post 4.96 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 23rd. Stockholders of record on Monday, July 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, July 6th. MCCORMICK & Co/SH SH NV’s dividend payout ratio (DPR) is currently 48.83%.

MCCORMICK & Co/SH SH NV Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

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

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