MCCORMICK & CO /SH NV (NYSE:MKC) Holdings Trimmed by Harvey Investment Co. LLC

Harvey Investment Co. LLC trimmed its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,477 shares of the company’s stock after selling 2,660 shares during the period. MCCORMICK & CO /SH comprises about 1.3% of Harvey Investment Co. LLC’s holdings, making the stock its 26th biggest holding. Harvey Investment Co. LLC’s holdings in MCCORMICK & CO /SH were worth $7,733,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Krane Funds Advisors LLC purchased a new stake in shares of MCCORMICK & CO /SH during the second quarter valued at $26,000. Capital Investment Advisory Services LLC lifted its holdings in shares of MCCORMICK & CO /SH by 40.0% during the second 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 during the last quarter. Private Ocean LLC lifted its holdings in shares of MCCORMICK & CO /SH by 72.9% during the second quarter. Private Ocean LLC now owns 313 shares of the company’s stock valued at $48,000 after purchasing an additional 132 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of MCCORMICK & CO /SH by 277.4% during the second quarter. Valeo Financial Advisors LLC now owns 317 shares of the company’s stock valued at $49,000 after purchasing an additional 233 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of MCCORMICK & CO /SH by 171.2% during the second quarter. CSat Investment Advisory L.P. now owns 339 shares of the company’s stock valued at $53,000 after purchasing an additional 214 shares during the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

MCCORMICK & CO /SH stock traded up $0.86 during mid-day trading on Monday, hitting $162.45. The company’s stock had a trading volume of 140,810 shares, compared to its average volume of 805,469. The firm’s 50 day moving average is $162.30 and its 200 day moving average is $158.36. The company has a market cap of $21.48 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 3.76 and a beta of 0.14. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.37. MCCORMICK & CO /SH NV has a 52-week low of $119.00 and a 52-week 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, topping the Zacks’ consensus estimate of $1.29 by $0.17. MCCORMICK & CO /SH had a return on equity of 21.63% and a net margin of 13.12%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business earned $1.28 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, analysts forecast that MCCORMICK & CO /SH NV will post 5.38 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, October 4th. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 45.88%.

Several equities research analysts have recently commented on MKC shares. UBS Group set a $155.00 target price on MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. JPMorgan Chase & Co. downgraded MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $154.00 to $150.00 in a research note on Tuesday, August 20th. Credit Suisse Group increased their price objective on MCCORMICK & CO /SH from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. ValuEngine downgraded MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Citigroup increased their price objective on MCCORMICK & CO /SH from $155.00 to $166.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. MCCORMICK & CO /SH has a consensus rating of “Hold” and a consensus target price of $154.86.

In other news, insider Malcolm Swift sold 27,200 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $169.28, for a total transaction of $4,604,416.00. Following the transaction, the insider now owns 50,039 shares of the company’s stock, valued at approximately $8,470,601.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $842,950.00. Following the transaction, the director now directly owns 9,501 shares in the company, valued at approximately $1,601,773.59. The disclosure for this sale can be found here. Insiders have sold a total of 39,902 shares of company stock valued at $6,725,405 over the last ninety days. Company insiders own 11.00% of the company’s stock.

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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