MCCORMICK & CO /SH NV (MKC) Stake Lowered by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board trimmed its position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 56.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,618 shares of the company’s stock after selling 3,411 shares during the period. Ontario Teachers Pension Plan Board’s holdings in MCCORMICK & CO /SH were worth $345,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Piedmont Investment Advisors LLC grew its stake in shares of MCCORMICK & CO /SH by 19.5% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 5,776 shares of the company’s stock valued at $671,000 after buying an additional 944 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of MCCORMICK & CO /SH in the 2nd quarter valued at about $3,537,000. TD Asset Management Inc. grew its stake in shares of MCCORMICK & CO /SH by 4.3% in the 2nd quarter. TD Asset Management Inc. now owns 298,359 shares of the company’s stock valued at $34,636,000 after buying an additional 12,258 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of MCCORMICK & CO /SH by 3.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,148 shares of the company’s stock valued at $2,687,000 after buying an additional 670 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of MCCORMICK & CO /SH by 1.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 421,141 shares of the company’s stock valued at $48,890,000 after buying an additional 5,999 shares during the period. Hedge funds and other institutional investors own 77.84% of the company’s stock.

MCCORMICK & CO /SH stock opened at $150.00 on Monday. MCCORMICK & CO /SH NV has a 52 week low of $98.34 and a 52 week high of $151.42. The company has a current ratio of 0.79, a quick ratio of 0.36 and a debt-to-equity ratio of 1.37. The company has a market cap of $19.75 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 3.34 and a beta of 0.36.

MCCORMICK & CO /SH (NYSE:MKC) last posted its earnings results on Thursday, September 27th. The company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. MCCORMICK & CO /SH had a net margin of 16.57% and a return on equity of 21.83%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the firm earned $1.12 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts expect that MCCORMICK & CO /SH NV will post 4.99 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Monday, December 31st will be given a dividend of $0.57 per share. The ex-dividend date is Friday, December 28th. This represents a $2.28 annualized dividend and a dividend yield of 1.52%. This is a boost from MCCORMICK & CO /SH’s previous quarterly dividend of $0.52. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is currently 48.83%.

MKC has been the subject of several research reports. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Barclays reiterated a “hold” rating and set a $129.00 price target on shares of MCCORMICK & CO /SH in a research note on Sunday, September 30th. Jefferies Financial Group set a $135.00 price target on MCCORMICK & CO /SH and gave the company a “buy” rating in a research note on Thursday, September 27th. Stifel Nicolaus lifted their price target on MCCORMICK & CO /SH from $117.00 to $125.00 and gave the company a “hold” rating in a research note on Friday, September 28th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $150.00 price target (up previously from $137.00) on shares of MCCORMICK & CO /SH in a research note on Friday, November 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. MCCORMICK & CO /SH currently has a consensus rating of “Hold” and an average price target of $125.89.

In related news, VP Christina M. Mcmullen sold 400 shares of MCCORMICK & CO /SH stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $147.44, for a total value of $58,976.00. Following the sale, the vice president now owns 624 shares of the company’s stock, valued at approximately $92,002.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Alan D. Wilson sold 111,000 shares of MCCORMICK & CO /SH stock in a transaction that occurred on Friday, October 19th. The stock was sold at an average price of $140.59, for a total transaction of $15,605,490.00. Following the completion of the sale, the insider now directly owns 218,644 shares in the company, valued at approximately $30,739,159.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 217,200 shares of company stock worth $30,747,866. Insiders own 19.20% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece of content was first published by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece of content on another site, it was stolen and reposted in violation of US & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.com-unik.info/2018/12/03/mccormick-co-sh-nv-mkc-stake-lowered-by-ontario-teachers-pension-plan-board.html.

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.

Featured Article: Balance Sheet

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit