Fort L.P. Takes $134,000 Position in MCCORMICK & CO /SH NV (MKC)

Share on StockTwits

Fort L.P. purchased a new position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 1,158 shares of the company’s stock, valued at approximately $134,000.

Several other institutional investors and hedge funds have also modified their holdings of MKC. Raymond James Financial Services Advisors Inc. acquired a new stake in MCCORMICK & CO /SH in the second quarter valued at approximately $3,537,000. ST Germain D J Co. Inc. raised its holdings in MCCORMICK & CO /SH by 16.0% in the second quarter. ST Germain D J Co. Inc. now owns 3,015 shares of the company’s stock valued at $350,000 after acquiring an additional 415 shares in the last quarter. Stock Yards Bank & Trust Co. raised its holdings in MCCORMICK & CO /SH by 3.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 104,726 shares of the company’s stock valued at $12,157,000 after acquiring an additional 3,835 shares in the last quarter. Amalgamated Bank raised its holdings in MCCORMICK & CO /SH by 12.1% in the first quarter. Amalgamated Bank now owns 17,760 shares of the company’s stock valued at $1,889,000 after acquiring an additional 1,914 shares in the last quarter. Finally, Hartford Financial Management Inc. acquired a new stake in MCCORMICK & CO /SH in the second quarter valued at approximately $1,509,000. 82.66% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Monday, June 11th. ValuEngine raised shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Citigroup raised their target price on shares of MCCORMICK & CO /SH from $114.00 to $117.00 and gave the company a “neutral” rating in a report on Friday, June 29th. Vertical Group cut shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a report on Friday, June 29th. They noted that the move was a valuation call. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $123.00 target price on shares of MCCORMICK & CO /SH in a report on Thursday, June 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $114.25.

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

Shares of MCCORMICK & CO /SH stock opened at $130.60 on Friday. The company has a market capitalization of $17.01 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 2.90 and a beta of 0.55. MCCORMICK & CO /SH NV has a 52 week low of $93.70 and a 52 week high of $130.86. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.42 and a current ratio of 0.85.

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

About MCCORMICK & CO /SH

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.

See Also: Penny Stocks, What You Need To Know

Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MCCORMICK & CO /SH NV (NYSE:MKC).

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

Receive News & Ratings for MCCORMICK & CO /SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MCCORMICK & CO /SH and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply