Larson Financial Group LLC Purchases Shares of 584 MCCORMICK & CO /SH NV (NYSE:MKC)

Larson Financial Group LLC purchased a new stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 584 shares of the company’s stock, valued at approximately $91,000.

Other hedge funds have also made changes to their positions in the company. Capital Investment Advisory Services LLC increased its stake in MCCORMICK & CO /SH by 40.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares in the last quarter. Pittenger & Anderson Inc. grew its stake in shares of MCCORMICK & CO /SH by 1.7% in the 2nd quarter. Pittenger & Anderson Inc. now owns 10,930 shares of the company’s stock worth $1,694,000 after acquiring an additional 185 shares in the last quarter. First Trust Advisors LP grew its stake in shares of MCCORMICK & CO /SH by 7.6% in the 1st quarter. First Trust Advisors LP now owns 227,046 shares of the company’s stock worth $34,200,000 after acquiring an additional 16,076 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of MCCORMICK & CO /SH by 8.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 149,111 shares of the company’s stock worth $23,114,000 after acquiring an additional 12,036 shares in the last quarter. Finally, Bailard Inc. grew its stake in shares of MCCORMICK & CO /SH by 14.9% in the 2nd quarter. Bailard Inc. now owns 2,489 shares of the company’s stock worth $386,000 after acquiring an additional 322 shares in the last quarter. Institutional investors and hedge funds own 80.25% of the company’s stock.

MKC has been the subject of several recent analyst reports. Deutsche Bank set a $142.00 target price on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, June 28th. ValuEngine lowered shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group set a $155.00 target price on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, June 28th. 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 note on Friday, June 28th. Finally, JPMorgan Chase & Co. lowered shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $154.00 to $150.00 in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $154.86.



In related news, Director Michael Aaron Conway sold 5,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $168.59, for a total transaction of $842,950.00. Following the completion of the transaction, the director now owns 9,501 shares in the company, valued at $1,601,773.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jacques Tapiero sold 2,500 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $169.21, for a total transaction of $423,025.00. Following the transaction, the director now owns 10,868 shares of the company’s stock, valued at approximately $1,838,974.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,902 shares of company stock valued at $6,725,405. 11.00% of the stock is owned by company insiders.

MKC traded down $0.65 during trading on Friday, hitting $165.05. 126,689 shares of the company traded hands, compared to its average volume of 811,718. The firm has a market cap of $22.08 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 3.87 and a beta of 0.14. The stock’s fifty day moving average is $162.07 and its 200 day moving average is $157.69. The company has a quick ratio of 0.37, a current ratio of 0.78 and a debt-to-equity ratio of 1.10. MCCORMICK & CO /SH NV has a one year low of $119.00 and a one year high of $171.10.

MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.17. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.34 billion. MCCORMICK & CO /SH had a net margin of 13.12% and a return on equity of 21.63%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 earnings per share. On average, equities research analysts forecast that MCCORMICK & CO /SH NV will post 5.38 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors 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 1.38%. MCCORMICK & CO /SH’s payout ratio is currently 45.88%.

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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