Ramsay Stattman Vela & Price Inc. Increases Stake in MCCORMICK & CO /SH NV (MKC)

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Ramsay Stattman Vela & Price Inc. grew its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 35.6% in the third quarter, Holdings Channel reports. The institutional investor owned 30,517 shares of the company’s stock after acquiring an additional 8,005 shares during the quarter. Ramsay Stattman Vela & Price Inc.’s holdings in MCCORMICK & CO /SH were worth $4,021,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MKC. Profit Investment Management LLC raised its holdings in MCCORMICK & CO /SH by 3.7% during the third quarter. Profit Investment Management LLC now owns 11,284 shares of the company’s stock worth $1,486,000 after purchasing an additional 398 shares in the last quarter. ST Germain D J Co. Inc. raised its holdings in MCCORMICK & CO /SH by 16.0% during the second quarter. ST Germain D J Co. Inc. now owns 3,015 shares of the company’s stock worth $350,000 after purchasing an additional 415 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in MCCORMICK & CO /SH by 7.8% during the third quarter. Steward Partners Investment Advisory LLC now owns 5,746 shares of the company’s stock worth $757,000 after purchasing an additional 415 shares in the last quarter. Harbour Capital Advisors LLC raised its holdings in MCCORMICK & CO /SH by 3.8% during the second quarter. Harbour Capital Advisors LLC now owns 11,502 shares of the company’s stock worth $1,331,000 after purchasing an additional 425 shares in the last quarter. Finally, Howland Capital Management LLC raised its holdings in MCCORMICK & CO /SH by 0.4% during the third quarter. Howland Capital Management LLC now owns 123,191 shares of the company’s stock worth $16,230,000 after purchasing an additional 465 shares in the last quarter. 80.54% of the stock is owned by institutional investors and hedge funds.

Several research firms recently issued reports on MKC. Jefferies Financial Group reissued a “buy” rating and set a $150.00 price target on shares of MCCORMICK & CO /SH in a report on Wednesday, October 3rd. Barclays reissued a “hold” rating and set a $129.00 price target on shares of MCCORMICK & CO /SH in a report on Sunday, September 30th. UBS Group set a $130.00 price target on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a report on Friday, September 28th. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Finally, Stifel Nicolaus increased their price target on shares of MCCORMICK & CO /SH from $117.00 to $125.00 and gave the stock a “hold” rating in a report on Friday, September 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. MCCORMICK & CO /SH has an average rating of “Hold” and a consensus price target of $124.44.

In other MCCORMICK & CO /SH news, Director Alan D. Wilson sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $125.30, for a total transaction of $12,530,000.00. Following the transaction, the director now directly owns 212,894 shares in the company, valued at $26,675,618.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the transaction, the director now owns 19,864 shares in the company, valued at $2,820,688. The disclosure for this sale can be found here. Insiders have sold 216,000 shares of company stock worth $28,845,490 over the last 90 days. 19.20% of the stock is currently owned by company insiders.

Shares of MKC opened at $144.75 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.36 and a debt-to-equity ratio of 1.37. MCCORMICK & CO /SH NV has a twelve month low of $93.70 and a twelve month high of $145.04. The stock has a market cap of $18.22 billion, a price-to-earnings ratio of 33.98, a P/E/G ratio of 3.12 and a beta of 0.57.

MCCORMICK & CO /SH (NYSE:MKC) last issued its earnings results on Thursday, September 27th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. MCCORMICK & CO /SH had a net margin of 16.57% and a return on equity of 21.83%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the business posted $1.12 earnings per share. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities analysts anticipate that MCCORMICK & CO /SH NV will post 4.99 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 23rd. Shareholders of record on Tuesday, October 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, October 5th. This represents a $2.08 annualized dividend and a yield of 1.44%. MCCORMICK & CO /SH’s payout ratio is currently 48.83%.

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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