Advisors Asset Management Inc. Grows Holdings in MCCORMICK & CO /SH NV (MKC)

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Advisors Asset Management Inc. raised its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 47.0% during the second quarter, HoldingsChannel.com reports. The firm owned 13,020 shares of the company’s stock after acquiring an additional 4,160 shares during the quarter. Advisors Asset Management Inc.’s holdings in MCCORMICK & CO /SH were worth $1,511,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Putnam Investments LLC lifted its position in MCCORMICK & CO /SH by 23.6% during the 2nd quarter. Putnam Investments LLC now owns 2,567,422 shares of the company’s stock valued at $298,052,000 after purchasing an additional 489,488 shares during the period. Bank of New York Mellon Corp lifted its position in MCCORMICK & CO /SH by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,087,752 shares of the company’s stock valued at $126,277,000 after purchasing an additional 18,392 shares during the period. FMR LLC lifted its position in MCCORMICK & CO /SH by 89.1% during the 2nd 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 during the period. Robeco Institutional Asset Management B.V. lifted its position in MCCORMICK & CO /SH by 180.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 562,773 shares of the company’s stock valued at $65,333,000 after purchasing an additional 361,921 shares during the period. Finally, Jennison Associates LLC lifted its position in MCCORMICK & CO /SH by 14.2% during the 2nd quarter. Jennison Associates LLC now owns 525,567 shares of the company’s stock valued at $61,013,000 after purchasing an additional 65,165 shares during the period. Institutional investors own 80.54% of the company’s stock.

In other news, major shareholder Alan D. Wilson sold 111,000 shares of the company’s stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $140.59, for a total value of $15,605,490.00. Following the completion of the sale, the insider now directly owns 218,644 shares of the company’s stock, valued at approximately $30,739,159.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the sale, the director now directly owns 19,864 shares of the company’s stock, valued at $2,820,688. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,000 shares of company stock valued at $28,845,490. 19.20% of the stock is currently owned by company insiders.

Shares of MKC stock opened at $144.75 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.79 and a quick ratio of 0.36. The stock has a market capitalization of $18.22 billion, a PE ratio of 33.98, a P/E/G ratio of 3.08 and a beta of 0.57. MCCORMICK & CO /SH NV has a one year low of $93.70 and a one year high of $145.04.

MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly 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 company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. MCCORMICK & CO /SH had a return on equity of 21.83% and a net margin of 16.57%. MCCORMICK & CO /SH’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 EPS. As a group, sell-side analysts expect that MCCORMICK & CO /SH NV will post 4.99 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 9th were paid a $0.52 dividend. The ex-dividend date was Friday, October 5th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.44%. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 48.83%.

A number of research analysts have issued reports on MKC shares. Zacks Investment Research downgraded shares of MCCORMICK & CO /SH from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Jefferies Financial Group set a $135.00 target price on shares of MCCORMICK & CO /SH and gave the company a “buy” rating in a research report on Thursday, September 27th. Stifel Nicolaus upped their target price on shares of MCCORMICK & CO /SH from $117.00 to $125.00 and gave the company a “hold” rating in a research report on Friday, September 28th. Credit Suisse Group set a $137.00 target price on shares of MCCORMICK & CO /SH and gave the company a “buy” rating in a research report on Friday, September 28th. Finally, UBS Group set a $130.00 price target on MCCORMICK & CO /SH and gave the company a “hold” rating in a research note on Friday, September 28th. One research 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. The company has a consensus rating of “Hold” and a consensus target price of $124.44.

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

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