AMI Asset Management Corp Trims Position in MCCORMICK & CO /SH NV (NYSE:MKC)

AMI Asset Management Corp decreased its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 357,125 shares of the company’s stock after selling 5,007 shares during the period. MCCORMICK & CO /SH accounts for 2.9% of AMI Asset Management Corp’s portfolio, making the stock its 12th largest position. AMI Asset Management Corp owned about 0.27% of MCCORMICK & CO /SH worth $55,819,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. ETRADE Capital Management LLC increased its stake in MCCORMICK & CO /SH by 1.6% during the 2nd quarter. ETRADE Capital Management LLC now owns 4,082 shares of the company’s stock valued at $633,000 after buying an additional 63 shares during the period. HM Capital Management LLC lifted its stake in MCCORMICK & CO /SH by 1.6% in the third quarter. HM Capital Management LLC now owns 3,883 shares of the company’s stock valued at $607,000 after acquiring an additional 63 shares during the last quarter. 6 Meridian lifted its stake in MCCORMICK & CO /SH by 2.0% in the second quarter. 6 Meridian now owns 3,473 shares of the company’s stock valued at $538,000 after acquiring an additional 69 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in MCCORMICK & CO /SH by 10.3% in the second quarter. Flagship Harbor Advisors LLC now owns 741 shares of the company’s stock valued at $114,000 after acquiring an additional 69 shares during the last quarter. Finally, Capital Investment Advisory Services LLC lifted its stake 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 valued at $39,000 after acquiring an additional 70 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Margaret M. V. Preston sold 2,402 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $161.23, for a total transaction of $387,274.46. Following the transaction, the director now owns 28,370 shares of the company’s stock, valued at $4,574,095.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Aaron Conway sold 5,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $168.59, for a total transaction 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 39,902 shares of company stock worth $6,725,405 in the last ninety days. 11.00% of the stock is currently owned by insiders.

A number of analysts have issued reports on MKC shares. Deutsche Bank set a $142.00 target price on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. cut shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $154.00 to $150.00 in a research note on Tuesday, August 20th. Citigroup lifted their target price on shares of MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Credit Suisse Group lifted their target price on shares of MCCORMICK & CO /SH from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, ValuEngine cut shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One 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’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $154.86.

NYSE:MKC opened at $160.46 on Thursday. MCCORMICK & CO /SH NV has a 12 month low of $119.00 and a 12 month high of $171.10. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 32.29, a P/E/G ratio of 3.73 and a beta of 0.14. The company has a quick ratio of 0.37, a current ratio of 0.78 and a debt-to-equity ratio of 1.10. The company’s 50 day moving average is $162.11 and its 200-day moving average is $158.62.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 1st. The company reported $1.46 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts predict that MCCORMICK & CO /SH NV will post 5.38 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, October 4th. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is currently 45.88%.

About MCCORMICK & CO /SH

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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