1,736 Shares in MCCORMICK & CO /SH NV (MKC) Acquired by Ballentine Partners LLC

Ballentine Partners LLC bought a new stake in MCCORMICK & CO /SH NV (NYSE:MKC) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 1,736 shares of the company’s stock, valued at approximately $229,000.

A number of other large investors have also recently modified their holdings of MKC. Putnam Investments LLC raised its holdings in MCCORMICK & CO /SH by 23.6% during the second quarter. Putnam Investments LLC now owns 2,567,422 shares of the company’s stock worth $298,052,000 after purchasing an additional 489,488 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in MCCORMICK & CO /SH by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 1,087,752 shares of the company’s stock worth $126,277,000 after purchasing an additional 18,392 shares in the last quarter. FMR LLC raised its holdings in MCCORMICK & CO /SH by 89.1% during the second quarter. FMR LLC now owns 916,815 shares of the company’s stock worth $106,433,000 after purchasing an additional 431,896 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in MCCORMICK & CO /SH by 11.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 627,267 shares of the company’s stock worth $82,644,000 after purchasing an additional 64,494 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in MCCORMICK & CO /SH by 14.2% during the second quarter. Jennison Associates LLC now owns 525,567 shares of the company’s stock worth $61,013,000 after purchasing an additional 65,165 shares in the last quarter. 80.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MKC opened at $144.00 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.36 and a current ratio of 0.79. The company has a market cap of $18.22 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 3.12 and a beta of 0.57. MCCORMICK & CO /SH NV has a 12-month low of $93.70 and a 12-month high of $145.04.

MCCORMICK & CO /SH (NYSE:MKC) last announced its earnings results on Thursday, September 27th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. MCCORMICK & CO /SH had a net margin of 16.57% and a return on equity of 21.83%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. Analysts anticipate that MCCORMICK & CO /SH NV will post 4.99 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 5th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.44%. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 48.83%.

MKC has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Barclays reissued a “hold” rating and set a $129.00 price objective on shares of MCCORMICK & CO /SH in a report on Sunday, September 30th. Jefferies Financial Group set a $135.00 price objective on shares of MCCORMICK & CO /SH and gave the stock a “buy” rating in a report on Thursday, September 27th. Stifel Nicolaus raised their price objective on shares of MCCORMICK & CO /SH from $117.00 to $125.00 and gave the stock a “hold” rating in a report on Friday, September 28th. Finally, Credit Suisse Group set a $137.00 price objective on shares of MCCORMICK & CO /SH and gave the stock a “buy” rating in a report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $124.44.

In other news, VP Michael R. Smith sold 7,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $142.59, for a total transaction of $1,026,648.00. Following the transaction, the vice president now directly owns 23,959 shares in the company, valued at $3,416,313.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alan D. Wilson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $125.30, for a total transaction of $12,530,000.00. Following the transaction, the director now owns 212,894 shares in the company, valued at $26,675,618.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 274,500 shares of company stock worth $37,157,251. Insiders own 19.20% of the company’s stock.

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 through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

Further Reading: What Does Beta Mean In Stock Selection

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)

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