Russell Investments Group Ltd. Boosts Stock Position in MCCORMICK & CO /SH NV (NYSE:MKC)

Russell Investments Group Ltd. lifted its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 9.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,492 shares of the company’s stock after buying an additional 4,032 shares during the quarter. Russell Investments Group Ltd.’s holdings in MCCORMICK & CO /SH were worth $7,532,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of MCCORMICK & CO /SH by 2.6% in the 1st quarter. BlackRock Inc. now owns 10,738,844 shares of the company’s stock valued at $1,617,593,000 after buying an additional 275,507 shares during the period. Fundsmith LLP increased its holdings in MCCORMICK & CO /SH by 93.6% during the 1st quarter. Fundsmith LLP now owns 5,204,584 shares of the company’s stock worth $783,966,000 after purchasing an additional 2,515,590 shares during the period. Clearbridge Investments LLC increased its holdings in MCCORMICK & CO /SH by 4.9% during the 1st quarter. Clearbridge Investments LLC now owns 2,039,349 shares of the company’s stock worth $307,187,000 after purchasing an additional 94,527 shares during the period. Geode Capital Management LLC increased its holdings in MCCORMICK & CO /SH by 15.9% during the 4th quarter. Geode Capital Management LLC now owns 1,800,426 shares of the company’s stock worth $250,306,000 after purchasing an additional 247,249 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in MCCORMICK & CO /SH by 7.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,454,501 shares of the company’s stock worth $225,454,000 after purchasing an additional 102,387 shares during the period. Hedge funds and other institutional investors own 80.19% of the company’s stock.

In other news, Director Margaret M. V. Preston sold 2,402 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $161.23, for a total value of $387,274.46. Following the transaction, the director now owns 28,370 shares in the company, valued at approximately $4,574,095.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael R. Smith sold 9,100 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $160.84, for a total value of $1,463,644.00. Following the completion of the transaction, the vice president now owns 30,453 shares in the company, valued at approximately $4,898,060.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,272 shares of company stock worth $7,197,181. Company insiders own 11.00% of the company’s stock.

Several brokerages have weighed in on MKC. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price target on the stock in a report on Thursday, May 30th. JPMorgan Chase & Co. downgraded MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $154.00 to $150.00 in a report on Tuesday, August 20th. Citigroup upped their price target on MCCORMICK & CO /SH from $155.00 to $166.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Deutsche Bank set a $142.00 price target on MCCORMICK & CO /SH and gave the stock a “hold” rating in a report on Friday, June 28th. Finally, UBS Group set a $155.00 price target on MCCORMICK & CO /SH and gave the stock a “hold” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. MCCORMICK & CO /SH presently has a consensus rating of “Hold” and an average target price of $142.89.

NYSE MKC traded up $1.18 during trading hours on Thursday, hitting $158.61. 10,439 shares of the company were exchanged, compared to its average volume of 1,045,659. The company has a 50 day moving average of $162.54 and a two-hundred day moving average of $154.32. The company has a quick ratio of 0.35, a current ratio of 0.79 and a debt-to-equity ratio of 1.18. MCCORMICK & CO /SH NV has a 52-week low of $119.00 and a 52-week high of $171.10. The firm has a market cap of $21.05 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 3.80 and a beta of 0.16.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings data on Thursday, June 27th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. MCCORMICK & CO /SH had a return on equity of 21.42% and a net margin of 12.73%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the business posted $1.02 EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts predict that MCCORMICK & CO /SH NV will post 5.3 EPS for the current year.

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

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