Pacer Advisors Inc. Buys Shares of 15,756 MCCORMICK & CO /SH NV (NYSE:MKC)

Pacer Advisors Inc. purchased a new position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,756 shares of the company’s stock, valued at approximately $2,827,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of MCCORMICK & CO /SH by 14.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 134,224 shares of the company’s stock worth $18,953,000 after acquiring an additional 16,578 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of MCCORMICK & CO /SH by 517.5% during the 1st quarter. Copeland Capital Management LLC now owns 7,935 shares of the company’s stock worth $1,120,000 after purchasing an additional 6,650 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of MCCORMICK & CO /SH by 9.2% during the 1st quarter. Schroder Investment Management Group now owns 33,463 shares of the company’s stock worth $5,087,000 after purchasing an additional 2,808 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of MCCORMICK & CO /SH by 13.1% during the 2nd quarter. Parallel Advisors LLC now owns 2,537 shares of the company’s stock worth $455,000 after purchasing an additional 293 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new position in shares of MCCORMICK & CO /SH during the 2nd quarter worth about $27,000. Institutional investors own 75.87% of the company’s stock.

Several equities analysts have commented on the company. UBS Group raised MCCORMICK & CO /SH to a “buy” rating and set a $160.00 price target for the company in a report on Friday, May 15th. JPMorgan Chase & Co. cut their price target on MCCORMICK & CO /SH from $137.00 to $134.00 and set an “underweight” rating for the company in a report on Friday, April 17th. Jefferies Financial Group raised MCCORMICK & CO /SH from an “underperform” rating to a “hold” rating and set a $167.00 price target for the company in a report on Monday, June 22nd. Deutsche Bank increased their target price on MCCORMICK & CO /SH from $156.00 to $182.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Finally, Zacks Investment Research raised MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a report on Wednesday, May 6th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $156.20.

Shares of MKC opened at $194.90 on Friday. MCCORMICK & CO /SH NV has a 1 year low of $112.22 and a 1 year high of $196.77. The company has a current ratio of 1.02, a quick ratio of 0.50 and a debt-to-equity ratio of 1.12. The stock has a 50 day simple moving average of $182.18 and a 200-day simple moving average of $164.15. The stock has a market cap of $25.97 billion, a PE ratio of 35.05, a PEG ratio of 5.86 and a beta of 0.37.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings results on Thursday, June 25th. The company reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.31. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.37 billion. MCCORMICK & CO /SH had a return on equity of 21.34% and a net margin of 13.74%. MCCORMICK & CO /SH’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 EPS. On average, sell-side analysts forecast that MCCORMICK & CO /SH NV will post 5.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.48 dividend on an annualized basis and a yield of 1.27%. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 46.36%.

In related news, Director Margaret M. V. Preston sold 8,408 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $181.80, for a total transaction of $1,528,574.40. Following the sale, the director now directly owns 33,135 shares in the company, valued at approximately $6,023,943. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patricia A. Little sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $179.14, for a total value of $895,700.00. Following the sale, the director now owns 16,288 shares in the company, valued at $2,917,832.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,408 shares of company stock worth $9,490,479. 11.00% of the stock is owned by corporate insiders.

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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