Fort L.P. Grows Stake in MCCORMICK & CO /SH NV (NYSE:MKC)

Fort L.P. raised its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 34.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,442 shares of the company’s stock after buying an additional 4,504 shares during the quarter. Fort L.P.’s holdings in MCCORMICK & CO /SH were worth $2,627,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. grew its holdings in shares of MCCORMICK & CO /SH by 26.5% during the first quarter. Farmers & Merchants Investments Inc. now owns 315 shares of the company’s stock worth $47,000 after buying an additional 66 shares in the last quarter. Glassman Wealth Services grew its holdings in shares of MCCORMICK & CO /SH by 43.7% in 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 during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of MCCORMICK & CO /SH by 1.8% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,356 shares of the company’s stock valued at $656,000 after purchasing an additional 76 shares during the period. Highstreet Asset Management Inc. grew its holdings in shares of MCCORMICK & CO /SH by 1.9% in the fourth quarter. Highstreet Asset Management Inc. now owns 4,282 shares of the company’s stock valued at $596,000 after purchasing an additional 80 shares during the period. Finally, Regentatlantic Capital LLC grew its holdings in shares of MCCORMICK & CO /SH by 2.3% in the first quarter. Regentatlantic Capital LLC now owns 3,682 shares of the company’s stock valued at $555,000 after purchasing an additional 83 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

In other MCCORMICK & CO /SH news, VP Michael R. Smith sold 9,200 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $154.49, for a total value of $1,421,308.00. Following the transaction, the vice president now owns 30,553 shares of the company’s stock, valued at $4,720,132.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Margaret M. V. Preston sold 3,865 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $154.31, for a total transaction of $596,408.15. Following the completion of the transaction, the director now directly owns 30,674 shares in the company, valued at approximately $4,733,304.94. The disclosure for this sale can be found here. Insiders sold 199,465 shares of company stock worth $29,224,484 in the last ninety days. 11.00% of the stock is currently owned by corporate insiders.

Shares of MKC opened at $156.85 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.21. MCCORMICK & CO /SH NV has a 12-month low of $104.22 and a 12-month high of $159.57. The stock has a market capitalization of $20.74 billion, a P/E ratio of 31.56, a PEG ratio of 3.73 and a beta of 0.24.

MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.06. MCCORMICK & CO /SH had a net margin of 12.19% and a return on equity of 21.41%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. MCCORMICK & CO /SH’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts anticipate that MCCORMICK & CO /SH NV will post 5.27 EPS for the current year.

MKC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a report on Tuesday, April 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $150.00 price objective on shares of MCCORMICK & CO /SH in a report on Tuesday, March 26th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $131.43.

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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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