Andra AP fonden Boosts Stake in MCCORMICK & CO /SH NV (MKC)

Andra AP fonden grew its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 31.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,700 shares of the company’s stock after purchasing an additional 11,700 shares during the period. Andra AP fonden’s holdings in MCCORMICK & CO /SH were worth $5,654,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of MCCORMICK & CO /SH in the second quarter valued at approximately $111,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in MCCORMICK & CO /SH during the 2nd quarter worth approximately $125,000. IMS Capital Management bought a new stake in MCCORMICK & CO /SH during the 2nd quarter worth approximately $128,000. Fort L.P. bought a new stake in MCCORMICK & CO /SH during the 2nd quarter worth approximately $134,000. Finally, Squar Milner Financial Services LLC bought a new stake in MCCORMICK & CO /SH during the 2nd quarter worth approximately $135,000. 82.59% of the stock is currently owned by institutional investors.

A number of analysts recently weighed in on MKC shares. Credit Suisse Group upped their target price on shares of MCCORMICK & CO /SH from $122.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, June 29th. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $123.00 target price on shares of MCCORMICK & CO /SH in a report on Thursday, June 28th. Citigroup upped their target price on shares of MCCORMICK & CO /SH from $114.00 to $117.00 and gave the stock a “neutral” rating in a report on Friday, June 29th. Finally, Vertical Group lowered shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a report on Friday, June 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $114.25.

In other news, Director Alan D. Wilson sold 100,000 shares of the stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $125.30, for a total value of $12,530,000.00. Following the transaction, the director now owns 212,894 shares of the company’s stock, valued at approximately $26,675,618.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alan D. Wilson sold 158,600 shares of the stock in a transaction on Thursday, June 28th. The stock was sold at an average price of $110.00, for a total transaction of $17,446,000.00. Following the completion of the transaction, the director now directly owns 212,894 shares in the company, valued at approximately $23,418,340. The disclosure for this sale can be found here. Insiders sold a total of 266,600 shares of company stock worth $30,935,200 in the last three months. Insiders own 19.20% of the company’s stock.

MCCORMICK & CO /SH stock opened at $130.22 on Monday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.42 and a current ratio of 0.85. The company has a market cap of $17.09 billion, a P/E ratio of 27.82, a PEG ratio of 2.92 and a beta of 0.55. MCCORMICK & CO /SH NV has a 1-year low of $93.70 and a 1-year high of $132.83.

MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings results on Thursday, June 28th. The company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.09. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. MCCORMICK & CO /SH had a net margin of 15.83% and a return on equity of 21.98%. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 EPS. research analysts expect that MCCORMICK & CO /SH NV will post 4.96 EPS for the current year.

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.

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Institutional Ownership by Quarter for MCCORMICK & CO /SH (NYSE:MKC)

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