Assenagon Asset Management S.A. Increases Stock Position in MCCORMICK & CO /SH NV (NYSE:MKC)

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Assenagon Asset Management S.A. grew its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,516 shares of the company’s stock after purchasing an additional 200 shares during the period. Assenagon Asset Management S.A.’s holdings in MCCORMICK & CO /SH were worth $1,956,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MKC. First Trust Advisors LP raised its holdings in shares of MCCORMICK & CO /SH by 7.6% in the first quarter. First Trust Advisors LP now owns 227,046 shares of the company’s stock valued at $34,200,000 after purchasing an additional 16,076 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of MCCORMICK & CO /SH by 83.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 612,649 shares of the company’s stock valued at $92,284,000 after purchasing an additional 278,184 shares during the last quarter. Marshall Wace North America L.P. raised its holdings in shares of MCCORMICK & CO /SH by 26.5% in the first quarter. Marshall Wace North America L.P. now owns 1,500 shares of the company’s stock valued at $226,000 after purchasing an additional 314 shares during the last quarter. Advisory Services Network LLC raised its holdings in shares of MCCORMICK & CO /SH by 12.4% in the first quarter. Advisory Services Network LLC now owns 2,859 shares of the company’s stock valued at $430,000 after purchasing an additional 315 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. raised its holdings in shares of MCCORMICK & CO /SH by 6.6% in the second quarter. Neville Rodie & Shaw Inc. now owns 6,500 shares of the company’s stock valued at $1,008,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 80.33% of the company’s stock.

NYSE MKC opened at $161.59 on Friday. MCCORMICK & CO /SH NV has a 52-week low of $119.00 and a 52-week high of $171.10. The company has a 50-day simple moving average of $162.30 and a 200 day simple moving average of $158.36. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.37 and a current ratio of 0.78. The company has a market capitalization of $21.54 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 3.76 and a beta of 0.14.

MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.17. MCCORMICK & CO /SH had a net margin of 13.12% and a return on equity of 21.63%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $1.28 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts forecast that MCCORMICK & CO /SH NV will post 5.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.28 dividend on an annualized basis and a yield of 1.41%. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 45.88%.

Several analysts have recently commented on MKC shares. ValuEngine downgraded shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Credit Suisse Group increased their target price on shares of MCCORMICK & CO /SH from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. UBS Group set a $155.00 target price on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. JPMorgan Chase & Co. downgraded shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $154.00 to $150.00 in a report on Tuesday, August 20th. Finally, Deutsche Bank set a $142.00 price objective on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. MCCORMICK & CO /SH currently has a consensus rating of “Hold” and an average price target of $154.86.

In other MCCORMICK & CO /SH news, Director Michael Aaron Conway sold 5,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $168.59, for a total transaction of $842,950.00. Following the completion of the transaction, the director now owns 9,501 shares in the company, valued at $1,601,773.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Malcolm Swift sold 27,200 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $169.28, for a total transaction of $4,604,416.00. Following the transaction, the insider now owns 50,039 shares of the company’s stock, valued at approximately $8,470,601.92. The disclosure for this sale can be found here. Insiders have sold 39,902 shares of company stock valued at $6,725,405 in the last 90 days. 11.00% of the stock is currently owned by corporate insiders.

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.

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

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