Victory Capital Management Inc. decreased its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 42.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,917 shares of the company’s stock after selling 22,419 shares during the quarter. Victory Capital Management Inc.’s holdings in MCCORMICK & CO /SH were worth $4,657,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Oregon Public Employees Retirement Fund increased its holdings in MCCORMICK & CO /SH by 38,047.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,051,488 shares of the company’s stock worth $36,000 after buying an additional 5,038,246 shares in the last quarter. Fundsmith LLP bought a new position in shares of MCCORMICK & CO /SH during the 4th quarter valued at approximately $348,961,000. Norges Bank bought a new position in shares of MCCORMICK & CO /SH during the 4th quarter valued at approximately $137,744,000. BlackRock Inc. lifted its holdings in shares of MCCORMICK & CO /SH by 9.9% in the 4th quarter. BlackRock Inc. now owns 10,463,337 shares of the company’s stock worth $1,456,918,000 after buying an additional 943,361 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of MCCORMICK & CO /SH by 62.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,352,114 shares of the company’s stock worth $203,669,000 after purchasing an additional 520,816 shares during the last quarter. Institutional investors and hedge funds own 81.31% of the company’s stock.
A number of equities research analysts have commented on the company. Zacks Investment Research cut MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $150.00 price target on shares of MCCORMICK & CO /SH in a research note on Tuesday, March 26th. Deutsche Bank upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Finally, Consumer Edge upgraded MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 25th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $132.57.
In related news, Director Margaret M. V. Preston sold 3,865 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $154.31, for a total transaction of $596,408.15. Following the sale, the director now directly owns 30,674 shares of the company’s stock, valued at $4,733,304.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Alan D. Wilson sold 94,400 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 206,553 shares in the company, valued at $31,286,582.91. The disclosure for this sale can be found here. Insiders sold 199,465 shares of company stock worth $29,224,484 over the last three months. Corporate insiders own 11.00% of the company’s stock.
MCCORMICK & CO /SH stock traded down $0.12 during midday trading on Friday, reaching $156.15. The company’s stock had a trading volume of 96,496 shares, compared to its average volume of 736,394. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.34 and a current ratio of 0.78. MCCORMICK & CO /SH NV has a 52-week low of $99.53 and a 52-week high of $157.00. The stock has a market cap of $20.29 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 3.65 and a beta of 0.26.
MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $1.23 billion for 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%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 earnings per share. As a group, sell-side analysts predict that MCCORMICK & CO /SH NV will post 5.27 EPS for the current fiscal year.
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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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