State of Alaska Department of Revenue Has $8.65 Million Stock Position in MCCORMICK & CO /SH NV (NYSE:MKC)

State of Alaska Department of Revenue grew its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 34.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 48,237 shares of the company’s stock after buying an additional 12,423 shares during the period. State of Alaska Department of Revenue’s holdings in MCCORMICK & CO /SH were worth $8,653,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smith Shellnut Wilson LLC ADV lifted its holdings in MCCORMICK & CO /SH by 2.6% during the first 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 in the last quarter. Thrivent Financial for Lutherans lifted its holdings in MCCORMICK & CO /SH by 0.9% during the fourth 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 in the last quarter. NovaPoint Capital LLC lifted its holdings in MCCORMICK & CO /SH by 0.6% during the first quarter. NovaPoint Capital LLC now owns 11,254 shares of the company’s stock worth $1,589,000 after acquiring an additional 66 shares in the last quarter. Trust Co. of Oklahoma lifted its holdings in MCCORMICK & CO /SH by 0.4% during the first 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 in the last quarter. Finally, Ballentine Partners LLC lifted its holdings in MCCORMICK & CO /SH by 4.3% during the first quarter. Ballentine Partners LLC now owns 1,799 shares of the company’s stock worth $254,000 after acquiring an additional 74 shares in the last quarter. 75.93% of the stock is owned by institutional investors.

A number of brokerages have recently commented on MKC. Cfra cut their price target on MCCORMICK & CO /SH from $155.00 to $140.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a report on Wednesday, May 6th. Stifel Nicolaus cut their price target on MCCORMICK & CO /SH from $155.00 to $130.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. JPMorgan Chase & Co. cut their price target on MCCORMICK & CO /SH from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Friday, April 17th. Finally, Deutsche Bank boosted their price target on MCCORMICK & CO /SH from $156.00 to $182.00 and gave the company a “hold” rating in a report on Friday, June 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. MCCORMICK & CO /SH has an average rating of “Hold” and an average target price of $154.90.

NYSE:MKC opened at $183.64 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.50 and a current ratio of 1.02. The stock’s 50-day simple moving average is $173.97 and its 200 day simple moving average is $161.67. The company has a market cap of $24.40 billion, a P/E ratio of 33.03, a P/E/G ratio of 5.50 and a beta of 0.37. MCCORMICK & CO /SH NV has a 52-week low of $112.22 and a 52-week high of $184.48.

MCCORMICK & CO /SH (NYSE:MKC) last released its earnings results on Thursday, June 25th. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.31. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.37 billion. MCCORMICK & CO /SH had a return on equity of 21.34% and a net margin of 13.74%. MCCORMICK & CO /SH’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. As a group, equities analysts predict that MCCORMICK & CO /SH NV will post 5.76 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, July 6th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, July 2nd. MCCORMICK & CO /SH’s dividend payout ratio is currently 46.36%.

In other MCCORMICK & CO /SH news, Director Maritza Gomez Montiel sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $180.50, for a total transaction of $631,750.00. Following the transaction, the director now owns 5,590 shares of the company’s stock, valued at $1,008,995. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Christina M. Mcmullen sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $181.21, for a total value of $453,025.00. In the last three months, insiders have sold 52,408 shares of company stock worth $9,490,479. Company insiders own 11.00% of the company’s stock.

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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