MCCORMICK & CO /SH NV (NYSE:MKC) Position Lowered by Diversified Trust Co

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Diversified Trust Co decreased its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,471 shares of the company’s stock after selling 160 shares during the period. Diversified Trust Co’s holdings in MCCORMICK & CO /SH were worth $230,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new stake in MCCORMICK & CO /SH during the second quarter worth about $26,000. Capital Investment Advisory Services LLC increased its stake 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 during the period. Private Ocean LLC increased its stake in shares of MCCORMICK & CO /SH by 72.9% in the second quarter. Private Ocean LLC now owns 313 shares of the company’s stock valued at $48,000 after purchasing an additional 132 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of MCCORMICK & CO /SH by 277.4% in the second quarter. Valeo Financial Advisors LLC now owns 317 shares of the company’s stock valued at $49,000 after purchasing an additional 233 shares during the period. Finally, CSat Investment Advisory L.P. increased its stake in shares of MCCORMICK & CO /SH by 171.2% in the second quarter. CSat Investment Advisory L.P. now owns 339 shares of the company’s stock valued at $53,000 after purchasing an additional 214 shares during the period. 80.25% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Michael Aaron Conway sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $168.59, for a total transaction of $842,950.00. Following the transaction, the director now owns 9,501 shares in the company, valued at $1,601,773.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lisa Manzone sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $167.05, for a total transaction of $467,740.00. Following the transaction, the vice president now owns 11,260 shares in the company, valued at approximately $1,880,983. The disclosure for this sale can be found here. Insiders have sold 39,902 shares of company stock worth $6,725,405 in the last quarter. Company insiders own 11.00% of the company’s stock.

NYSE MKC opened at $165.69 on Friday. MCCORMICK & CO /SH NV has a 12 month low of $119.00 and a 12 month high of $171.10. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.37. The firm has a market capitalization of $22.08 billion, a PE ratio of 33.34, a P/E/G ratio of 3.87 and a beta of 0.14. The company’s 50 day simple moving average is $162.07 and its 200 day simple moving average is $157.69.

MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.17. MCCORMICK & CO /SH had a net margin of 13.12% and a return on equity of 21.63%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business earned $1.28 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts anticipate that MCCORMICK & CO /SH NV will post 5.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.38%. MCCORMICK & CO /SH’s dividend payout ratio is presently 45.88%.

Several equities research analysts have commented on MKC shares. ValuEngine lowered shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group raised their price target on shares of MCCORMICK & CO /SH from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Deutsche Bank set a $142.00 price target on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research note on Friday, June 28th. Citigroup raised their price target on shares of MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Finally, UBS Group set a $155.00 price target on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $154.86.

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 in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

Featured Article: Ex-Dividend

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

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