Bingham Osborn & Scarborough LLC Makes New Investment in MCCORMICK & CO /SH NV (NYSE:MKC)

Bingham Osborn & Scarborough LLC purchased a new position in MCCORMICK & CO /SH NV (NYSE:MKC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,771 shares of the company’s stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Neville Rodie & Shaw Inc. lifted its holdings in shares of MCCORMICK & CO /SH by 6.6% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 6,500 shares of the company’s stock worth $1,008,000 after acquiring an additional 400 shares during the last quarter. Bath Savings Trust Co lifted its holdings in shares of MCCORMICK & CO /SH by 1.4% in the 2nd quarter. Bath Savings Trust Co now owns 99,422 shares of the company’s stock worth $15,412,000 after acquiring an additional 1,355 shares during the last quarter. Cox Capital Mgt LLC lifted its holdings in shares of MCCORMICK & CO /SH by 1.1% in the 2nd quarter. Cox Capital Mgt LLC now owns 9,060 shares of the company’s stock worth $1,404,000 after acquiring an additional 103 shares during the last quarter. Dorsey Wright & Associates bought a new stake in shares of MCCORMICK & CO /SH in the 2nd quarter worth about $298,000. Finally, Fulton Bank N.A. lifted its holdings in shares of MCCORMICK & CO /SH by 18.9% in the 2nd quarter. Fulton Bank N.A. now owns 1,821 shares of the company’s stock worth $282,000 after acquiring an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 80.04% of the company’s stock.

In other news, VP Lisa Manzone sold 2,800 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $167.05, for a total value of $467,740.00. Following the completion of the sale, the vice president now owns 11,260 shares in the company, valued at approximately $1,880,983. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Margaret M. V. Preston sold 2,402 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $161.23, for a total transaction of $387,274.46. Following the completion of the sale, the director now owns 28,370 shares of the company’s stock, valued at approximately $4,574,095.10. The disclosure for this sale can be found here. Insiders have sold a total of 39,902 shares of company stock valued at $6,725,405 in the last quarter. 11.00% of the stock is currently owned by company insiders.

Shares of MKC opened at $159.69 on Friday. MCCORMICK & CO /SH NV has a 1-year low of $119.00 and a 1-year high of $171.10. The company has a 50-day moving average of $161.88 and a 200 day moving average of $159.14. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 3.69 and a beta of 0.13. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.37.

MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business posted $1.28 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities 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 was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a dividend of $0.57 per share. The ex-dividend date was Friday, October 4th. This represents a $2.28 dividend on an annualized basis and a yield of 1.43%. MCCORMICK & CO /SH’s payout ratio is 45.88%.

MKC has been the subject of several analyst reports. Credit Suisse Group raised their target price on shares of MCCORMICK & CO /SH from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. ValuEngine lowered shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $154.00 to $150.00 in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $154.86.

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

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