Westpac Banking Corp grew its stake in MCCORMICK & CO /SH NV (NYSE:MKC) by 57.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,816 shares of the company’s stock after buying an additional 4,300 shares during the period. Westpac Banking Corp’s holdings in MCCORMICK & CO /SH were worth $1,557,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Stevens Capital Management LP acquired a new stake in shares of MCCORMICK & CO /SH in the second quarter valued at about $3,545,000. Raymond James Financial Services Advisors Inc. acquired a new stake in MCCORMICK & CO /SH during the second quarter worth approximately $3,537,000. Victory Capital Management Inc. grew its stake in MCCORMICK & CO /SH by 13.1% during the second quarter. Victory Capital Management Inc. now owns 34,358 shares of the company’s stock worth $3,989,000 after purchasing an additional 3,984 shares during the period. ST Germain D J Co. Inc. grew its stake in MCCORMICK & CO /SH by 16.0% during the second quarter. ST Germain D J Co. Inc. now owns 3,015 shares of the company’s stock worth $350,000 after purchasing an additional 415 shares during the period. Finally, Callahan Advisors LLC acquired a new stake in MCCORMICK & CO /SH during the third quarter worth approximately $550,000. 77.84% of the stock is owned by institutional investors.
In other news, VP Christina M. Mcmullen sold 400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $147.44, for a total value of $58,976.00. Following the transaction, the vice president now owns 624 shares in the company, valued at $92,002.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia A. Little sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $146.13, for a total value of $730,650.00. Following the completion of the transaction, the director now owns 14,637 shares in the company, valued at approximately $2,138,904.81. The disclosure for this sale can be found here. Insiders sold 217,200 shares of company stock valued at $30,747,866 in the last three months. Insiders own 19.20% of the company’s stock.
MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings data on Thursday, September 27th. The company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.01. MCCORMICK & CO /SH had a return on equity of 21.83% and a net margin of 16.57%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, research analysts predict that MCCORMICK & CO /SH NV will post 4.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Monday, December 31st will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, December 28th. This is a boost from MCCORMICK & CO /SH’s previous quarterly dividend of $0.52. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is 48.83%.
Several equities research analysts recently commented on the company. Credit Suisse Group reaffirmed a “neutral” rating and set a $150.00 target price (up previously from $137.00) on shares of MCCORMICK & CO /SH in a research note on Friday, November 9th. Zacks Investment Research cut MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Tuesday, November 27th. Jefferies Financial Group reissued a “buy” rating and issued a $150.00 price objective on shares of MCCORMICK & CO /SH in a research note on Wednesday, October 3rd. Barclays reissued a “hold” rating and issued a $129.00 price objective on shares of MCCORMICK & CO /SH in a research note on Sunday, September 30th. Finally, UBS Group set a $130.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a research note on Friday, September 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $125.89.
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MCCORMICK & CO /SH Company 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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