MCCORMICK & CO /SH NV (NYSE:MKC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 204,526 shares of the company’s stock after selling 39,188 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MCCORMICK & CO /SH were worth $30,807,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc raised its position in shares of MCCORMICK & CO /SH by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 13,463,310 shares of the company’s stock valued at $1,773,790,000 after acquiring an additional 79,040 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of MCCORMICK & CO /SH by 67.2% during the 4th quarter. Advisors Asset Management Inc. now owns 32,934 shares of the company’s stock valued at $4,586,000 after acquiring an additional 13,238 shares in the last quarter. Dupont Capital Management Corp raised its position in shares of MCCORMICK & CO /SH by 34.3% during the 4th quarter. Dupont Capital Management Corp now owns 1,902 shares of the company’s stock valued at $265,000 after acquiring an additional 486 shares in the last quarter. Bailard Inc. acquired a new stake in shares of MCCORMICK & CO /SH during the 4th quarter valued at approximately $308,000. Finally, Redpoint Investment Management Pty Ltd raised its position in shares of MCCORMICK & CO /SH by 58.9% during the 4th quarter. Redpoint Investment Management Pty Ltd now owns 3,589 shares of the company’s stock valued at $500,000 after acquiring an additional 1,330 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

In related news, Director Margaret M. V. Preston sold 3,865 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $154.31, for a total transaction of $596,408.15. Following the completion of the transaction, the director now directly owns 30,674 shares in the company, valued at approximately $4,733,304.94. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Michael R. Smith sold 9,200 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $154.49, for a total value of $1,421,308.00. Following the transaction, the vice president now owns 30,553 shares of the company’s stock, valued at $4,720,132.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,465 shares of company stock valued at $29,224,484. 11.00% of the stock is owned by company insiders.

MKC has been the subject of a number of recent research reports. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research note on Tuesday, April 2nd. Jefferies Financial Group restated a “buy” rating and set a $150.00 price objective on shares of MCCORMICK & CO /SH in a research note on Tuesday, March 26th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $131.43.

MKC traded down $1.27 during trading on Thursday, reaching $155.84. 1,634 shares of the company were exchanged, compared to its average volume of 707,443. The company has a market cap of $20.70 billion, a P/E ratio of 31.34, a PEG ratio of 3.72 and a beta of 0.24. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.78 and a quick ratio of 0.34. MCCORMICK & CO /SH NV has a 52 week low of $104.22 and a 52 week high of $159.57.

MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.06. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. MCCORMICK & CO /SH had a return on equity of 21.41% and a net margin of 12.19%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 EPS. As a group, research analysts anticipate that MCCORMICK & CO /SH NV will post 5.27 earnings per share for the current year.

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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.

Further Reading: Why Net Income is Important to Investors

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

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