Rampart Investment Management Company LLC boosted its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 268.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,525 shares of the company’s stock after purchasing an additional 3,296 shares during the quarter. Rampart Investment Management Company LLC’s holdings in MCCORMICK & CO /SH were worth $179,334,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. boosted its stake in MCCORMICK & CO /SH by 21.3% in the 3rd quarter. Pacer Advisors Inc. now owns 6,682 shares of the company’s stock worth $880,000 after purchasing an additional 1,174 shares during the period. Bell Rock Capital LLC bought a new position in MCCORMICK & CO /SH in the 3rd quarter worth approximately $658,000. Charter Trust Co. boosted its stake in MCCORMICK & CO /SH by 26.1% in the 3rd quarter. Charter Trust Co. now owns 6,781 shares of the company’s stock worth $894,000 after purchasing an additional 1,402 shares during the period. Loomis Sayles & Co. L P boosted its stake in MCCORMICK & CO /SH by 1.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 619,128 shares of the company’s stock worth $81,570,000 after purchasing an additional 9,858 shares during the period. Finally, Honkamp Krueger Financial Services Inc. bought a new position in MCCORMICK & CO /SH in the 3rd quarter worth approximately $122,000. Institutional investors and hedge funds own 77.84% of the company’s stock.
MKC has been the subject of several recent analyst reports. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Barclays restated a “hold” rating and issued a $129.00 price target on shares of MCCORMICK & CO /SH in a research note on Sunday, September 30th. 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. Credit Suisse Group reiterated a “neutral” rating and set a $150.00 target price (up from $137.00) on shares of MCCORMICK & CO /SH in a research report on Friday, November 9th. Finally, Stifel Nicolaus increased their target price on MCCORMICK & CO /SH from $117.00 to $125.00 and gave the company a “hold” rating in a research report on Friday, September 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. MCCORMICK & CO /SH presently has an average rating of “Hold” and an average price target of $131.67.
NYSE MKC opened at $151.57 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.79 and a debt-to-equity ratio of 1.37. The company has a market cap of $19.96 billion, a PE ratio of 35.58, a PEG ratio of 3.13 and a beta of 0.36. MCCORMICK & CO /SH NV has a one year low of $98.34 and a one year high of $156.00.
MCCORMICK & CO /SH (NYSE:MKC) last posted its earnings results on Thursday, September 27th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. MCCORMICK & CO /SH had a return on equity of 21.83% and a net margin of 16.57%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. On average, sell-side analysts expect that MCCORMICK & CO /SH NV will post 4.99 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Stockholders of record on Monday, December 31st will be given a dividend of $0.57 per share. This is an increase from MCCORMICK & CO /SH’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, December 28th. MCCORMICK & CO /SH’s dividend payout ratio is currently 48.83%.
About MCCORMICK & CO /SH
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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