Huntington National Bank lifted its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 279,236 shares of the company’s stock after purchasing an additional 21,493 shares during the quarter. Huntington National Bank owned about 0.21% of MCCORMICK & CO /SH worth $36,790,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Putnam Investments LLC grew its holdings in shares of MCCORMICK & CO /SH by 23.6% in the second quarter. Putnam Investments LLC now owns 2,567,422 shares of the company’s stock valued at $298,052,000 after purchasing an additional 489,488 shares during the period. Bank of New York Mellon Corp boosted its stake in MCCORMICK & CO /SH by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 1,087,752 shares of the company’s stock worth $126,277,000 after buying an additional 18,392 shares during the period. FMR LLC boosted its stake in MCCORMICK & CO /SH by 89.1% during the second quarter. FMR LLC now owns 916,815 shares of the company’s stock worth $106,433,000 after buying an additional 431,896 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in MCCORMICK & CO /SH by 180.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 562,773 shares of the company’s stock worth $65,333,000 after buying an additional 361,921 shares during the period. Finally, Jennison Associates LLC boosted its stake in MCCORMICK & CO /SH by 14.2% during the second quarter. Jennison Associates LLC now owns 525,567 shares of the company’s stock worth $61,013,000 after buying an additional 65,165 shares during the period. 82.62% of the stock is owned by hedge funds and other institutional investors.
MKC has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $123.00 target price on shares of MCCORMICK & CO /SH in a research note on Thursday, June 28th. Credit Suisse Group set a $137.00 target price on shares of MCCORMICK & CO /SH and gave the stock a “buy” rating in a research note on Friday, September 28th. ValuEngine raised shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Stifel Nicolaus increased their target price on shares of MCCORMICK & CO /SH from $117.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, September 28th. Finally, Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $124.44.
In other news, Director Alan D. Wilson sold 100,000 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $125.30, for a total transaction of $12,530,000.00. Following the sale, the director now owns 212,894 shares of the company’s stock, valued at $26,675,618.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.20% of the stock is currently owned by corporate insiders.
Shares of MKC traded down $0.33 during mid-day trading on Thursday, hitting $137.36. 14,010 shares of the company’s stock were exchanged, compared to its average volume of 966,803. The stock has a market capitalization of $17.29 billion, a PE ratio of 32.48, a P/E/G ratio of 2.94 and a beta of 0.57. MCCORMICK & CO /SH NV has a fifty-two week low of $93.70 and a fifty-two week high of $137.81. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.36 and a current ratio of 0.79.
MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings results on Thursday, September 27th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. MCCORMICK & CO /SH had a net margin of 16.57% and a return on equity of 21.83%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. On average, sell-side analysts predict that MCCORMICK & CO /SH NV will post 4.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 9th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.51%. MCCORMICK & CO /SH’s dividend payout ratio is presently 48.83%.
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 through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
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