Assenagon Asset Management S.A. Buys 200 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)

Assenagon Asset Management S.A. raised its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 1.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,516 shares of the company’s stock after purchasing an additional 200 shares during the period. Assenagon Asset Management S.A.’s holdings in MCCORMICK & CO /SH were worth $1,956,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Thoroughbred Financial Services LLC raised its stake in shares of MCCORMICK & CO /SH by 16,307.6% during the second quarter. Thoroughbred Financial Services LLC now owns 552,117 shares of the company’s stock worth $55,212,000 after acquiring an additional 548,752 shares in the last quarter. Invesco Ltd. raised its stake in shares of MCCORMICK & CO /SH by 53.2% during the second quarter. Invesco Ltd. now owns 1,404,090 shares of the company’s stock worth $217,649,000 after acquiring an additional 487,834 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of MCCORMICK & CO /SH by 14,359.4% during the second quarter. Nuveen Asset Management LLC now owns 433,638 shares of the company’s stock worth $67,218,000 after acquiring an additional 430,639 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of MCCORMICK & CO /SH by 83.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 612,649 shares of the company’s stock worth $92,284,000 after acquiring an additional 278,184 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of MCCORMICK & CO /SH by 1.6% during the second quarter. Vanguard Group Inc. now owns 14,406,576 shares of the company’s stock worth $2,233,164,000 after acquiring an additional 231,324 shares in the last quarter. Institutional investors and hedge funds own 80.33% of the company’s stock.

In other news, Director Jacques Tapiero sold 2,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $169.21, for a total transaction of $423,025.00. Following the sale, the director now owns 10,868 shares in the company, valued at approximately $1,838,974.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Margaret M. V. Preston sold 2,402 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $161.23, for a total transaction of $387,274.46. Following the sale, the director now owns 28,370 shares in the company, valued at approximately $4,574,095.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,902 shares of company stock worth $6,725,405. 11.00% of the stock is owned by insiders.

Several research firms have commented on MKC. JPMorgan Chase & Co. downgraded shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $154.00 to $150.00 in a research note on Tuesday, August 20th. Credit Suisse Group lifted their price target on shares of MCCORMICK & CO /SH from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. UBS Group set a $155.00 price target on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, June 28th. ValuEngine downgraded shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Citigroup lifted their price target on shares of MCCORMICK & CO /SH from $155.00 to $166.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $154.86.

Shares of NYSE MKC opened at $161.59 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.78 and a debt-to-equity ratio of 1.10. MCCORMICK & CO /SH NV has a 52 week low of $119.00 and a 52 week high of $171.10. The firm’s fifty day moving average is $162.30 and its 200 day moving average is $158.36. The company has a market cap of $21.54 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 3.76 and a beta of 0.14.

MCCORMICK & CO /SH (NYSE:MKC) last issued its earnings results on Tuesday, October 1st. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.29 by $0.17. MCCORMICK & CO /SH had a net margin of 13.12% and a return on equity of 21.63%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts anticipate that MCCORMICK & CO /SH NV will post 5.38 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, October 4th. MCCORMICK & CO /SH’s payout ratio is 45.88%.

MCCORMICK & CO /SH Company 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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