Franklin Parlapiano Turner & Welch LLC reduced its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,228 shares of the company’s stock after selling 529 shares during the quarter. MCCORMICK & CO /SH comprises approximately 2.8% of Franklin Parlapiano Turner & Welch LLC’s holdings, making the stock its 7th largest position. Franklin Parlapiano Turner & Welch LLC’s holdings in MCCORMICK & CO /SH were worth $6,437,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of MKC. Winthrop Partners WNY LLC bought a new position in shares of MCCORMICK & CO /SH in the fourth quarter worth $28,000. Financial Advantage Inc. bought a new position in shares of MCCORMICK & CO /SH in the fourth quarter worth $41,000. Ancora Advisors LLC acquired a new stake in shares of MCCORMICK & CO /SH in the third quarter valued at $105,000. Belpointe Asset Management LLC acquired a new stake in shares of MCCORMICK & CO /SH in the third quarter valued at $117,000. Finally, Honkamp Krueger Financial Services Inc. acquired a new stake in shares of MCCORMICK & CO /SH in the third quarter valued at $122,000. Hedge funds and other institutional investors own 77.42% of the company’s stock.
In other news, VP Christina M. Mcmullen sold 400 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $147.44, for a total transaction of $58,976.00. Following the completion of the sale, the vice president now directly owns 624 shares of the company’s stock, valued at $92,002.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 19.20% of the company’s stock.
MKC has been the subject of several research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $150.00 price objective on shares of MCCORMICK & CO /SH in a report on Monday, January 28th. Credit Suisse Group restated a “neutral” rating and issued a $150.00 price objective (up previously from $137.00) on shares of MCCORMICK & CO /SH in a report on Friday, November 9th. Deutsche Bank upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a report on Monday, December 3rd. Finally, Consumer Edge upgraded MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a report on Friday, January 25th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $130.63.
Shares of MCCORMICK & CO /SH stock opened at $124.79 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.74 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $16.09 billion, a PE ratio of 25.11, a PEG ratio of 2.58 and a beta of 0.22. MCCORMICK & CO /SH NV has a fifty-two week low of $99.49 and a fifty-two week high of $156.00.
MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings data on Thursday, January 24th. The company reported $1.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.03). MCCORMICK & CO /SH had a net margin of 17.26% and a return on equity of 21.34%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the company earned $1.54 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that MCCORMICK & CO /SH NV will post 5.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, January 14th. Stockholders of record on Monday, December 31st were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.83%. This is an increase from MCCORMICK & CO /SH’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, December 28th. MCCORMICK & CO /SH’s dividend payout ratio is currently 45.88%.
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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.
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