Gerber Kawasaki Wealth & Investment Management purchased a new stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,400 shares of the company’s stock, valued at approximately $210,000.
Several other large investors have also made changes to their positions in the company. Vanguard Group Inc lifted its holdings in shares of MCCORMICK & CO /SH by 0.6% during the third quarter. Vanguard Group Inc now owns 13,463,310 shares of the company’s stock valued at $1,773,790,000 after purchasing an additional 79,040 shares in the last quarter. BlackRock Inc. increased its position in MCCORMICK & CO /SH by 9.9% during the fourth quarter. BlackRock Inc. now owns 10,463,337 shares of the company’s stock valued at $1,456,918,000 after acquiring an additional 943,361 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in MCCORMICK & CO /SH by 38,047.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,051,488 shares of the company’s stock valued at $36,000 after acquiring an additional 5,038,246 shares during the last quarter. Fundsmith LLP purchased a new stake in MCCORMICK & CO /SH during the fourth quarter valued at $348,961,000. Finally, Geode Capital Management LLC increased its position in MCCORMICK & CO /SH by 15.9% during the fourth quarter. Geode Capital Management LLC now owns 1,800,426 shares of the company’s stock valued at $250,306,000 after acquiring an additional 247,249 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.
MKC traded up $1.21 during midday trading on Thursday, reaching $156.22. The company had a trading volume of 3,854 shares, compared to its average volume of 1,224,890. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.21. The stock has a market cap of $20.33 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 3.25 and a beta of 0.26. MCCORMICK & CO /SH NV has a 1 year low of $99.53 and a 1 year high of $157.00.
MCCORMICK & CO /SH (NYSE:MKC) last released its earnings results on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. MCCORMICK & CO /SH had a return on equity of 21.41% and a net margin of 12.19%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the business posted $1.00 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that MCCORMICK & CO /SH NV will post 5.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, April 5th. MCCORMICK & CO /SH’s dividend payout ratio is currently 45.88%.
In related news, major shareholder Alan D. Wilson sold 94,400 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $151.47, for a total transaction of $14,298,768.00. Following the completion of the sale, the insider now owns 206,553 shares in the company, valued at $31,286,582.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christina M. Mcmullen sold 2,000 shares of the stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $154.00, for a total value of $308,000.00. Following the sale, the vice president now owns 3,211 shares of the company’s stock, valued at approximately $494,494. The disclosure for this sale can be found here. Insiders have sold 195,600 shares of company stock valued at $28,628,076 in the last quarter. 11.00% of the stock is currently owned by company insiders.
A number of research firms recently commented on MKC. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research report on Tuesday, April 2nd. Jefferies Financial Group restated a “buy” rating and issued a $150.00 price target on shares of MCCORMICK & CO /SH in a research report on Tuesday, March 26th. Consumer Edge upgraded MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 25th. Finally, Deutsche Bank upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $132.57.
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 in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
Further Reading: Overbought
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