Clarkston Capital Partners LLC Has $51.53 Million Position in MCCORMICK & CO /SH NV (MKC)

Clarkston Capital Partners LLC trimmed its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 14.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 370,086 shares of the company’s stock after selling 64,680 shares during the quarter. MCCORMICK & CO /SH accounts for approximately 2.0% of Clarkston Capital Partners LLC’s holdings, making the stock its 19th biggest holding. Clarkston Capital Partners LLC’s holdings in MCCORMICK & CO /SH were worth $51,531,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MKC. OppenheimerFunds Inc. lifted its position in MCCORMICK & CO /SH by 2,036.6% in the second quarter. OppenheimerFunds Inc. now owns 93,625 shares of the company’s stock worth $10,869,000 after buying an additional 89,243 shares during the last quarter. Laurion Capital Management LP purchased a new stake in MCCORMICK & CO /SH in the second quarter worth $244,000. Paloma Partners Management Co purchased a new stake in MCCORMICK & CO /SH in the second quarter worth $328,000. Glenmede Trust Co. NA increased its stake in MCCORMICK & CO /SH by 3,470.6% in the second quarter. Glenmede Trust Co. NA now owns 352,453 shares of the company’s stock worth $40,917,000 after purchasing an additional 342,582 shares during the period. Finally, California Public Employees Retirement System increased its stake in MCCORMICK & CO /SH by 24.2% in the second quarter. California Public Employees Retirement System now owns 365,797 shares of the company’s stock worth $42,465,000 after purchasing an additional 71,330 shares during the period. 77.77% of the stock is owned by institutional investors.

NYSE MKC traded up $0.90 during trading on Thursday, hitting $140.47. The company’s stock had a trading volume of 63,125 shares, compared to its average volume of 1,178,101. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.36 and a current ratio of 0.79. The company has a market cap of $18.54 billion, a PE ratio of 32.71, a P/E/G ratio of 2.91 and a beta of 0.44. MCCORMICK & CO /SH NV has a fifty-two week low of $98.34 and a fifty-two week high of $156.00.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 14th. Shareholders of record on Monday, December 31st were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Friday, December 28th. This is an increase from MCCORMICK & CO /SH’s previous quarterly dividend of $0.52. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is currently 53.52%.

In other MCCORMICK & CO /SH news, Chairman Lawrence Erik Kurzius sold 51,300 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $142.01, for a total value of $7,285,113.00. Following the completion of the sale, the chairman now owns 114,459 shares of the company’s stock, valued at $16,254,322.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Alan D. Wilson sold 111,000 shares of the firm’s stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $140.59, for a total value of $15,605,490.00. Following the completion of the sale, the insider now directly owns 218,644 shares of the company’s stock, valued at approximately $30,739,159.96. The disclosure for this sale can be found here. In the last three months, insiders sold 217,200 shares of company stock valued at $30,747,866. Corporate insiders own 19.20% of the company’s stock.

MKC has been the topic of several research reports. Barclays restated a “hold” rating and set a $129.00 price target on shares of MCCORMICK & CO /SH in a research note on Sunday, September 30th. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. 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. Credit Suisse Group set a $108.00 price target on MCCORMICK & CO /SH and gave the company a “buy” rating in a research note on Thursday, December 20th. Finally, Stifel Nicolaus raised 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. MCCORMICK & CO /SH has a consensus rating of “Hold” and a consensus price target of $127.00.

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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 through two segments, Consumer and Industrial. 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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