MCCORMICK & CO /SH NV (NYSE:MKC) Short Interest Update

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MCCORMICK & CO /SH NV (NYSE:MKC) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 8,287,200 shares, a decline of 6.5% from the July 31st total of 8,867,500 shares. Currently, 6.8% of the shares of the company are short sold. Based on an average trading volume of 878,900 shares, the days-to-cover ratio is presently 9.4 days.

A number of research analysts have recently issued reports on MKC shares. Citigroup boosted 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. 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. Zacks Investment Research upgraded shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price target on the stock in a research note on Thursday, May 30th. Deutsche Bank set a $142.00 price target on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. lowered shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $154.00 to $150.00 in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $142.89.

In other news, VP Nneka Louise Rimmer sold 2,070 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $154.02, for a total transaction of $318,821.40. Following the transaction, the vice president now directly owns 6,209 shares in the company, valued at $956,310.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael R. Smith sold 9,100 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $160.84, for a total transaction of $1,463,644.00. Following the transaction, the vice president now owns 30,453 shares in the company, valued at $4,898,060.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,272 shares of company stock worth $7,197,181. Company insiders own 11.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Moseley Investment Management Inc. acquired a new position in MCCORMICK & CO /SH during the first quarter worth about $1,165,000. Capital Investment Advisory Services LLC lifted its holdings in shares of MCCORMICK & CO /SH by 40.0% in the second quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares in the last quarter. Pittenger & Anderson Inc. lifted its holdings in shares of MCCORMICK & CO /SH by 1.7% in the second quarter. Pittenger & Anderson Inc. now owns 10,930 shares of the company’s stock valued at $1,694,000 after purchasing an additional 185 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of MCCORMICK & CO /SH by 7.6% in the first quarter. First Trust Advisors LP now owns 227,046 shares of the company’s stock valued at $34,200,000 after purchasing an additional 16,076 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of MCCORMICK & CO /SH by 8.8% in the second quarter. Envestnet Asset Management Inc. now owns 149,111 shares of the company’s stock valued at $23,114,000 after purchasing an additional 12,036 shares in the last quarter. Institutional investors own 80.19% of the company’s stock.

MKC traded down $0.69 on Friday, hitting $157.12. 389,422 shares of the company were exchanged, compared to its average volume of 804,571. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.35 and a current ratio of 0.79. The business’s fifty day moving average is $162.52 and its 200 day moving average is $154.42. MCCORMICK & CO /SH has a fifty-two week low of $119.00 and a fifty-two week high of $171.10. The firm has a market capitalization of $20.86 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 3.72 and a beta of 0.16.

MCCORMICK & CO /SH (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.07. MCCORMICK & CO /SH had a net margin of 12.73% and a return on equity of 21.42%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the business posted $1.02 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. Analysts forecast that MCCORMICK & CO /SH will post 5.28 EPS for the current fiscal year.

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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