Reliance Trust Co. of Delaware Trims Stake in MCCORMICK & CO /SH NV (MKC)

Reliance Trust Co. of Delaware trimmed its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,327 shares of the company’s stock after selling 418 shares during the quarter. Reliance Trust Co. of Delaware’s holdings in MCCORMICK & CO /SH were worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in MCCORMICK & CO /SH in the second quarter worth $111,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in MCCORMICK & CO /SH in the second quarter worth $125,000. IMS Capital Management bought a new position in MCCORMICK & CO /SH in the second quarter worth $128,000. Fort L.P. bought a new position in MCCORMICK & CO /SH in the second quarter worth $134,000. Finally, Squar Milner Financial Services LLC bought a new position in MCCORMICK & CO /SH in the second quarter worth $135,000. 80.54% of the stock is owned by institutional investors.

In other news, major shareholder Alan D. Wilson sold 111,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $30,739,159.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alan D. Wilson sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $125.30, for a total value of $12,530,000.00. Following the completion of the sale, the director now owns 212,894 shares of the company’s stock, valued at $26,675,618.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 216,000 shares of company stock valued at $28,845,490. 19.20% of the stock is currently owned by corporate insiders.



MKC has been the subject of several research reports. Stifel Nicolaus raised their target price on MCCORMICK & CO /SH from $117.00 to $125.00 and gave the stock a “hold” rating in a research report on Friday, September 28th. Zacks Investment Research raised MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Credit Suisse Group set a $137.00 target price on MCCORMICK & CO /SH and gave the stock a “buy” rating in a research report on Friday, September 28th. Jefferies Financial Group set a $135.00 target price on MCCORMICK & CO /SH and gave the stock a “buy” rating in a research report on Thursday, September 27th. Finally, UBS Group set a $130.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, September 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. MCCORMICK & CO /SH presently has an average rating of “Hold” and an average target price of $124.44.

Shares of NYSE MKC opened at $142.95 on Wednesday. The firm has a market cap of $18.22 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 3.12 and a beta of 0.57. MCCORMICK & CO /SH NV has a 52-week low of $93.70 and a 52-week high of $145.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.79 and a quick ratio of 0.36.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 5th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.46%. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 48.83%.

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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