Papp L Roy & Associates Sells 181 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)

Papp L Roy & Associates lessened its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,480 shares of the company’s stock after selling 181 shares during the quarter. Papp L Roy & Associates’ holdings in MCCORMICK & CO /SH were worth $4,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Investment Advisory Services LLC boosted its position in shares of MCCORMICK & CO /SH by 40.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. Pittenger & Anderson Inc. lifted its position in MCCORMICK & CO /SH by 1.7% in the 2nd quarter. Pittenger & Anderson Inc. now owns 10,930 shares of the company’s stock worth $1,694,000 after buying an additional 185 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in MCCORMICK & CO /SH by 8.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 149,111 shares of the company’s stock worth $23,114,000 after buying an additional 12,036 shares during the last quarter. Bailard Inc. lifted its position in MCCORMICK & CO /SH by 14.9% in the 2nd quarter. Bailard Inc. now owns 2,489 shares of the company’s stock worth $386,000 after buying an additional 322 shares during the last quarter. Finally, Railway Pension Investments Ltd lifted its position in MCCORMICK & CO /SH by 0.6% in the 3rd quarter. Railway Pension Investments Ltd now owns 79,247 shares of the company’s stock worth $12,386,000 after buying an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 80.04% of the company’s stock.

NYSE:MKC traded down $0.74 during mid-day trading on Friday, reaching $159.69. The stock had a trading volume of 594,981 shares, compared to its average volume of 975,221. The firm has a 50 day moving average price of $161.88 and a two-hundred day moving average price of $159.14. The stock has a market capitalization of $21.14 billion, a P/E ratio of 32.13, a P/E/G ratio of 3.69 and a beta of 0.13. MCCORMICK & CO /SH NV has a one year low of $119.00 and a one year high of $171.10. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.37 and a current ratio of 0.78.

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

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.57 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.28 dividend on an annualized basis and a yield of 1.43%. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is currently 45.88%.

In other news, Director Jacques Tapiero sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $169.21, for a total transaction of $423,025.00. Following the transaction, the director now directly owns 10,868 shares of the company’s stock, valued at $1,838,974.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Malcolm Swift sold 27,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $169.28, for a total value of $4,604,416.00. Following the transaction, the insider now directly owns 50,039 shares in the company, valued at $8,470,601.92. The disclosure for this sale can be found here. Insiders have sold 39,902 shares of company stock worth $6,725,405 over the last three months. Insiders own 11.00% of the company’s stock.

A number of analysts recently weighed in on the company. Credit Suisse Group boosted their target price on MCCORMICK & CO /SH from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. ValuEngine downgraded MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. downgraded MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $154.00 to $150.00 in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $154.86.

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.

Further Reading: Fundamental Analysis

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

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