Ontario Teachers Pension Plan Board Sells 8,425 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)

Ontario Teachers Pension Plan Board lessened its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 58.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,092 shares of the company’s stock after selling 8,425 shares during the period. Ontario Teachers Pension Plan Board’s holdings in MCCORMICK & CO /SH were worth $860,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Smith Shellnut Wilson LLC ADV raised its stake in MCCORMICK & CO /SH by 2.6% during the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 2,561 shares of the company’s stock worth $362,000 after acquiring an additional 64 shares during the period. Thrivent Financial for Lutherans raised its stake in MCCORMICK & CO /SH by 0.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,666 shares of the company’s stock worth $1,301,000 after acquiring an additional 66 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in MCCORMICK & CO /SH by 0.9% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,957 shares of the company’s stock worth $1,351,000 after acquiring an additional 72 shares during the period. Trust Co. of Oklahoma raised its stake in MCCORMICK & CO /SH by 0.4% during the 1st quarter. Trust Co. of Oklahoma now owns 17,342 shares of the company’s stock worth $2,449,000 after acquiring an additional 73 shares during the period. Finally, Ballentine Partners LLC raised its stake in MCCORMICK & CO /SH by 4.3% during the 1st quarter. Ballentine Partners LLC now owns 1,799 shares of the company’s stock worth $254,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 76.61% of the company’s stock.

MKC stock opened at $171.87 on Friday. The firm has a fifty day moving average price of $158.28 and a 200 day moving average price of $159.78. MCCORMICK & CO /SH NV has a fifty-two week low of $112.22 and a fifty-two week high of $180.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.33 and a current ratio of 0.74. The firm has a market cap of $22.67 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 6.66 and a beta of 0.33.

MCCORMICK & CO /SH (NYSE:MKC) last posted its earnings results on Tuesday, March 31st. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. MCCORMICK & CO /SH had a net margin of 13.13% and a return on equity of 20.53%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm posted $1.12 earnings per share. MCCORMICK & CO /SH’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts predict that MCCORMICK & CO /SH NV will post 5.2 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 13th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Thursday, April 9th. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 46.36%.

A number of equities research analysts have commented on MKC shares. Zacks Investment Research upgraded shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research note on Wednesday, May 6th. Jefferies Financial Group restated a “sell” rating and set a $110.00 target price on shares of MCCORMICK & CO /SH in a research note on Monday, March 30th. Deutsche Bank decreased their target price on shares of MCCORMICK & CO /SH from $163.00 to $139.00 and set a “hold” rating on the stock in a research note on Wednesday, March 25th. JPMorgan Chase & Co. cut their price objective on shares of MCCORMICK & CO /SH from $137.00 to $134.00 and set an “underweight” rating for the company in a report on Friday, April 17th. Finally, Bank of America lowered shares of MCCORMICK & CO /SH from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $175.00 to $140.00 in a report on Thursday, March 19th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $146.82.

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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