Jennison Associates LLC Has $22.22 Million Position in MCCORMICK & CO /SH NV (MKC)

Jennison Associates LLC reduced its stake in MCCORMICK & CO /SH NV (NYSE:MKC) by 56.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 159,601 shares of the company’s stock after selling 209,117 shares during the quarter. Jennison Associates LLC owned approximately 0.12% of MCCORMICK & CO /SH worth $22,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MKC. Oregon Public Employees Retirement Fund lifted its holdings in MCCORMICK & CO /SH by 38,047.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,051,488 shares of the company’s stock worth $36,000 after purchasing an additional 5,038,246 shares during the last quarter. FMR LLC raised its stake in shares of MCCORMICK & CO /SH by 89.1% in the second quarter. FMR LLC now owns 916,815 shares of the company’s stock valued at $106,433,000 after purchasing an additional 431,896 shares in the last quarter. Janus Henderson Group PLC grew its position in MCCORMICK & CO /SH by 43.4% in the third quarter. Janus Henderson Group PLC now owns 346,374 shares of the company’s stock valued at $45,632,000 after acquiring an additional 104,875 shares during the period. Mackenzie Financial Corp bought a new stake in MCCORMICK & CO /SH in the fourth quarter valued at $14,362,000. Finally, BlackRock Inc. grew its position in MCCORMICK & CO /SH by 1.0% in the third quarter. BlackRock Inc. now owns 9,519,976 shares of the company’s stock valued at $1,254,258,000 after acquiring an additional 96,798 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Shares of MKC opened at $133.76 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.35 and a debt-to-equity ratio of 1.27. MCCORMICK & CO /SH NV has a 12-month low of $99.53 and a 12-month high of $156.00. The firm has a market cap of $17.68 billion, a PE ratio of 26.91, a PEG ratio of 2.76 and a beta of 0.22.

MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 24th. The company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.03). MCCORMICK & CO /SH had a net margin of 17.26% and a return on equity of 21.34%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the company earned $1.54 EPS. The company’s revenue was up .6% compared to the same quarter last year. Research analysts anticipate that MCCORMICK & CO /SH NV will post 5.25 EPS for the current fiscal year.

Several brokerages have recently commented on MKC. Credit Suisse Group restated a “neutral” rating and set a $150.00 target price (up previously from $137.00) on shares of MCCORMICK & CO /SH in a report on Friday, November 9th. Zacks Investment Research cut MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a report on Tuesday, November 27th. Jefferies Financial Group restated a “buy” rating and set a $150.00 target price on shares of MCCORMICK & CO /SH in a report on Monday, January 28th. Deutsche Bank upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Finally, Consumer Edge upgraded MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a report on Friday, January 25th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. MCCORMICK & CO /SH has a consensus rating of “Hold” and a consensus target price of $130.63.

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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 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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