MCCORMICK & CO /SH NV (MKC) Shares Sold by Kessler Investment Group LLC

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Kessler Investment Group LLC cut its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 50.0% during the first quarter, HoldingsChannel reports. The firm owned 388 shares of the company’s stock after selling 388 shares during the period. Kessler Investment Group LLC’s holdings in MCCORMICK & CO /SH were worth $58,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC purchased a new position in MCCORMICK & CO /SH during the fourth quarter valued at approximately $26,000. Winthrop Partners WNY LLC purchased a new position in MCCORMICK & CO /SH during the fourth quarter valued at approximately $28,000. JNBA Financial Advisors purchased a new position in MCCORMICK & CO /SH during the fourth quarter valued at approximately $28,000. Oregon Public Employees Retirement Fund grew its position in MCCORMICK & CO /SH by 38,047.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,051,488 shares of the company’s stock valued at $36,000 after purchasing an additional 5,038,246 shares in the last quarter. Finally, Financial Advantage Inc. purchased a new position in MCCORMICK & CO /SH during the fourth quarter valued at approximately $41,000. 80.35% of the stock is currently owned by hedge funds and other institutional investors.

MKC stock opened at $153.20 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $20.46 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 3.27 and a beta of 0.26. MCCORMICK & CO /SH NV has a 12 month low of $99.53 and a 12 month high of $156.00.

MCCORMICK & CO /SH (NYSE:MKC) last posted its earnings results on Tuesday, March 26th. The company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.06. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. MCCORMICK & CO /SH had a net margin of 12.19% and a return on equity of 21.41%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 earnings per share. On average, equities research analysts predict that MCCORMICK & CO /SH NV will post 5.27 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, April 5th. MCCORMICK & CO /SH’s dividend payout ratio is 45.88%.

MKC has been the topic of a number of research analyst reports. Credit Suisse Group set a $108.00 price objective on shares of MCCORMICK & CO /SH and gave the company a “buy” rating in a research report on Thursday, December 20th. Deutsche Bank raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Consumer Edge raised shares of MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 25th. Jefferies Financial Group reissued a “buy” rating and issued a $150.00 target price on shares of MCCORMICK & CO /SH in a research report on Monday, January 28th. Finally, Zacks Investment Research downgraded shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Monday, January 28th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. MCCORMICK & CO /SH currently has a consensus rating of “Hold” and a consensus price target of $132.57.

In related news, major shareholder Alan D. Wilson sold 90,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $140.00, for a total transaction of $12,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael R. Smith sold 9,200 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $154.49, for a total transaction of $1,421,308.00. Following the sale, the vice president now directly owns 30,553 shares of the company’s stock, valued at $4,720,132.97. The disclosure for this sale can be found here. Insiders sold 193,600 shares of company stock valued at $28,320,076 over the last three months. Insiders own 11.00% of the company’s stock.

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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 in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

Further Reading: Stock Symbol

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)

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