Bellecapital International Ltd. Purchases New Position in MCCORMICK & CO /SH NV (NYSE:MKC)

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Bellecapital International Ltd. acquired a new stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,731 shares of the company’s stock, valued at approximately $268,000.

Other institutional investors have also recently made changes to their positions in the company. Private Ocean LLC bought a new stake in shares of MCCORMICK & CO /SH in the first quarter worth $27,000. Winslow Evans & Crocker Inc. purchased a new position in MCCORMICK & CO /SH during the first quarter valued at $36,000. Glassman Wealth Services lifted its position in MCCORMICK & CO /SH by 43.7% during the first quarter. Glassman Wealth Services now owns 240 shares of the company’s stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. Ascent Wealth Partners LLC purchased a new position in MCCORMICK & CO /SH during the first quarter valued at $41,000. Finally, Farmers National Bank purchased a new position in MCCORMICK & CO /SH during the first quarter valued at $45,000. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Shares of NYSE MKC opened at $169.00 on Friday. The business’s 50 day moving average is $159.94 and its two-hundred day moving average is $149.87. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.79 and a quick ratio of 0.35. MCCORMICK & CO /SH NV has a 1-year low of $119.00 and a 1-year high of $170.09. The stock has a market capitalization of $21.87 billion, a P/E ratio of 34.00, a PEG ratio of 3.89 and a beta of 0.18.

MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 27th. The company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.07. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. MCCORMICK & CO /SH had a return on equity of 21.42% and a net margin of 12.73%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 earnings per share. As a group, equities research analysts anticipate that MCCORMICK & CO /SH NV will post 5.31 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.35%. MCCORMICK & CO /SH’s dividend payout ratio is 45.88%.

Several research firms recently weighed in on MKC. JPMorgan Chase & Co. lifted their target price on MCCORMICK & CO /SH from $143.00 to $148.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 target price on the stock in a research report on Thursday, May 30th. Deutsche Bank set a $142.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. Citigroup boosted their price objective on MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Finally, UBS Group set a $155.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $142.67.

In related news, VP Nneka Louise Rimmer sold 2,070 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $154.02, for a total value of $318,821.40. Following the completion of the sale, the vice president now owns 6,209 shares in the company, valued at $956,310.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael R. Smith sold 9,100 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $160.84, for a total value of $1,463,644.00. Following the completion of the sale, the vice president now owns 30,453 shares of the company’s stock, valued at approximately $4,898,060.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,035 shares of company stock worth $2,378,874. 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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