IFM Investors Pty Ltd Has $2 Million Position in MCCORMICK & CO /SH NV (NYSE:MKC)

IFM Investors Pty Ltd raised its stake in MCCORMICK & CO /SH NV (NYSE:MKC) by 40.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,793 shares of the company’s stock after purchasing an additional 3,714 shares during the period. IFM Investors Pty Ltd’s holdings in MCCORMICK & CO /SH were worth $2,000,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MKC. ETRADE Capital Management LLC boosted its position in shares of MCCORMICK & CO /SH by 1.6% in the second quarter. ETRADE Capital Management LLC now owns 4,082 shares of the company’s stock valued at $633,000 after acquiring an additional 63 shares during the period. HM Capital Management LLC boosted its position in shares of 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 period. 6 Meridian boosted its position in shares of 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 period. Flagship Harbor Advisors LLC boosted its position in shares of 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 period. Finally, Capital Investment Advisory Services LLC boosted its position in shares of 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 period. Hedge funds and other institutional investors own 80.04% of the company’s stock.

MKC has been the subject of a number of recent research reports. Credit Suisse Group boosted 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 report on Wednesday, October 2nd. ValuEngine cut shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $154.00 to $150.00 in a research report on Tuesday, August 20th. One 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 stock presently has a consensus rating of “Hold” and a consensus price target of $154.86.

MKC traded down $0.89 on Friday, hitting $159.54. 48,192 shares of the stock were exchanged, compared to its average volume of 572,163. MCCORMICK & CO /SH NV has a 12 month low of $119.00 and a 12 month high of $171.10. The business has a 50-day moving average of $161.90 and a two-hundred day moving average of $159.11. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.37. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 3.69 and a beta of 0.13.

MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business posted $1.28 earnings per share. MCCORMICK & CO /SH’s revenue was up .8% compared to the same quarter last year. Equities research analysts expect that MCCORMICK & CO /SH NV will post 5.38 earnings per share for the current fiscal year.

The company also recently disclosed 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. The ex-dividend date was Friday, October 4th. This represents a $2.28 annualized dividend and a yield of 1.43%. MCCORMICK & CO /SH’s dividend payout ratio is 45.88%.

In other news, Director Margaret M. V. Preston sold 2,402 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $161.23, for a total value of $387,274.46. Following the completion of the transaction, the director now owns 28,370 shares of the company’s stock, valued at $4,574,095.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the insider now directly owns 50,039 shares of the company’s stock, valued at approximately $8,470,601.92. The disclosure for this sale can be found here. Insiders have sold 39,902 shares of company stock valued at $6,725,405 in the last ninety days. 11.00% of the stock is currently owned by company insiders.

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.

Featured Article: If I purchase shares through a brokerage account, am I the holder of record?

Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MCCORMICK & CO /SH NV (NYSE:MKC).

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

Receive News & Ratings for MCCORMICK & CO /SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MCCORMICK & CO /SH and related companies with MarketBeat.com's FREE daily email newsletter.