North Star Investment Management Corp. Sells 6,000 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)

North Star Investment Management Corp. lowered its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 82.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,307 shares of the company’s stock after selling 6,000 shares during the quarter. North Star Investment Management Corp.’s holdings in MCCORMICK & CO /SH were worth $204,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in shares of MCCORMICK & CO /SH in the second quarter worth $26,000. Capital Investment Advisory Services LLC grew its position in MCCORMICK & CO /SH by 40.0% in the second quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares in the last quarter. Ascent Wealth Partners LLC purchased a new position in MCCORMICK & CO /SH in the first quarter worth $41,000. Private Ocean LLC grew its position in MCCORMICK & CO /SH by 72.9% in the second quarter. Private Ocean LLC now owns 313 shares of the company’s stock worth $48,000 after acquiring an additional 132 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its position in MCCORMICK & CO /SH by 277.4% in the second quarter. Valeo Financial Advisors LLC now owns 317 shares of the company’s stock worth $49,000 after acquiring an additional 233 shares in the last quarter. 80.25% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MKC traded up $2.18 during midday trading on Friday, hitting $168.96. The company had a trading volume of 547,620 shares, compared to its average volume of 1,027,645. The stock’s fifty day moving average price is $162.06 and its 200-day moving average price is $156.88. The company has a quick ratio of 0.35, a current ratio of 0.78 and a debt-to-equity ratio of 1.10. MCCORMICK & CO /SH NV has a 52-week low of $119.00 and a 52-week high of $171.10. The company has a market capitalization of $22.39 billion, a PE ratio of 34.00, a P/E/G ratio of 3.91 and a beta of 0.14.

MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.17. MCCORMICK & CO /SH had a net margin of 13.12% and a return on equity of 21.63%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the business posted $1.28 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, research analysts forecast that MCCORMICK & CO /SH NV will post 5.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be given a dividend of $0.57 per share. The ex-dividend date is Friday, October 4th. This represents a $2.28 annualized dividend and a yield of 1.35%. MCCORMICK & CO /SH’s payout ratio is 45.88%.

In other MCCORMICK & CO /SH news, Director Margaret M. V. Preston sold 2,402 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $161.23, for a total transaction of $387,274.46. Following the completion of the sale, the director now directly owns 28,370 shares in the company, valued at $4,574,095.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Malcolm Swift sold 27,200 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $169.28, for a total transaction of $4,604,416.00. Following the sale, the insider now owns 50,039 shares of the company’s stock, valued at $8,470,601.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,102 shares of company stock valued at $5,414,715. Company insiders own 11.00% of the company’s stock.

Several brokerages recently issued reports on MKC. Deutsche Bank set a $142.00 target price on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research report on Friday, June 28th. UBS Group set a $155.00 target price on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. lowered shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $154.00 to $150.00 in a research report on Tuesday, August 20th. Citigroup upped their target price on shares of MCCORMICK & CO /SH from $155.00 to $166.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Finally, ValuEngine lowered shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $154.86.

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.

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

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