MCCORMICK & CO /SH NV (MKC) Position Lifted by TD Asset Management Inc.

TD Asset Management Inc. boosted its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 4.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 310,250 shares of the company’s stock after acquiring an additional 11,891 shares during the period. TD Asset Management Inc. owned 0.24% of MCCORMICK & CO /SH worth $40,876,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Baltimore Washington Financial Advisors Inc. lifted its holdings in MCCORMICK & CO /SH by 5.1% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 67,962 shares of the company’s stock valued at $8,954,000 after acquiring an additional 3,312 shares during the last quarter. Private Advisor Group LLC lifted its holdings in MCCORMICK & CO /SH by 62.7% in the third quarter. Private Advisor Group LLC now owns 20,281 shares of the company’s stock valued at $2,672,000 after acquiring an additional 7,818 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in MCCORMICK & CO /SH by 9.3% in the third quarter. Victory Capital Management Inc. now owns 37,552 shares of the company’s stock valued at $4,947,000 after acquiring an additional 3,194 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in MCCORMICK & CO /SH by 1,470.8% in the third quarter. Moody National Bank Trust Division now owns 82,828 shares of the company’s stock valued at $10,913,000 after acquiring an additional 77,555 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in MCCORMICK & CO /SH by 11.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 627,267 shares of the company’s stock valued at $82,644,000 after acquiring an additional 64,494 shares during the last quarter. Hedge funds and other institutional investors own 80.37% of the company’s stock.

In other news, Director Alan D. Wilson sold 100,000 shares of the company’s stock in a transaction 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 sale, the director now owns 212,894 shares of the company’s stock, valued at $26,675,618.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Alan D. Wilson sold 111,000 shares of the company’s stock in a transaction on Friday, October 19th. The stock was sold at an average price of $140.59, for a total value of $15,605,490.00. Following the sale, the insider now directly owns 218,644 shares in the company, valued at approximately $30,739,159.96. The disclosure for this sale can be found here. Insiders have sold 316,800 shares of company stock worth $43,218,890 in the last ninety days. Corporate insiders own 19.20% of the company’s stock.

NYSE:MKC opened at $151.34 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.36 and a current ratio of 0.79. MCCORMICK & CO /SH NV has a 52 week low of $95.38 and a 52 week high of $151.42. The firm has a market cap of $19.55 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 3.30 and a beta of 0.34.

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

The business also recently disclosed 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, October 5th. MCCORMICK & CO /SH’s dividend payout ratio is currently 48.83%.

MKC has been the topic of a number of recent analyst reports. Zacks Investment Research cut MCCORMICK & CO /SH from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Jefferies Financial Group set a $135.00 price target on MCCORMICK & CO /SH and gave the stock a “buy” rating in a research note on Thursday, September 27th. Stifel Nicolaus upped their price target on MCCORMICK & CO /SH from $117.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, September 28th. Credit Suisse Group set a $137.00 price target on MCCORMICK & CO /SH and gave the stock a “buy” rating in a research note on Friday, September 28th. Finally, UBS Group set a $130.00 price target on MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. MCCORMICK & CO /SH has a consensus rating of “Hold” and an average price target of $124.44.

TRADEMARK VIOLATION WARNING: This piece was originally published by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://sportsperspectives.com/2018/11/09/mccormick-co-sh-nv-mkc-position-lifted-by-td-asset-management-inc.html.

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

Featured Story: Risk Tolerance

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.

Leave a Reply