Ontario Teachers Pension Plan Board Sells 8,425 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)

Ontario Teachers Pension Plan Board cut its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 58.0% in the first quarter, HoldingsChannel.com reports. The firm owned 6,092 shares of the company’s stock after selling 8,425 shares during the period. Ontario Teachers Pension Plan Board’s holdings in MCCORMICK & CO /SH were worth $860,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. EagleClaw Capital Managment LLC raised its holdings in MCCORMICK & CO /SH by 1.8% in the first quarter. EagleClaw Capital Managment LLC now owns 10,660 shares of the company’s stock worth $1,502,000 after purchasing an additional 192 shares in the last quarter. Dai Ichi Life Insurance Company Ltd raised its holdings in MCCORMICK & CO /SH by 30.7% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 17,040 shares of the company’s stock worth $2,406,000 after purchasing an additional 4,000 shares in the last quarter. Lighthouse Financial Advisors Inc. raised its holdings in MCCORMICK & CO /SH by 8.8% in the first quarter. Lighthouse Financial Advisors Inc. now owns 16,127 shares of the company’s stock worth $2,266,000 after purchasing an additional 1,305 shares in the last quarter. Swiss National Bank raised its holdings in MCCORMICK & CO /SH by 18.8% in the first quarter. Swiss National Bank now owns 883,543 shares of the company’s stock worth $124,765,000 after purchasing an additional 139,900 shares in the last quarter. Finally, Lucia Wealth Services LLC grew its stake in shares of MCCORMICK & CO /SH by 2.2% during the first quarter. Lucia Wealth Services LLC now owns 38,719 shares of the company’s stock worth $5,468,000 after acquiring an additional 829 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

MKC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a research note on Wednesday, May 6th. UBS Group upgraded MCCORMICK & CO /SH to a “buy” rating and set a $160.00 price target on the stock in a research note on Friday, May 15th. Cfra dropped their price target on MCCORMICK & CO /SH from $155.00 to $140.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. JPMorgan Chase & Co. dropped their price target on MCCORMICK & CO /SH from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Friday, April 17th. Finally, Credit Suisse Group upgraded MCCORMICK & CO /SH from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $147.00 to $187.00 in a research note on Thursday, May 14th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $146.82.

Shares of NYSE MKC opened at $171.87 on Friday. The business’s 50 day moving average price is $158.28 and its 200 day moving average price is $159.78. The firm has a market cap of $22.67 billion, a P/E ratio of 32.93, a P/E/G ratio of 6.66 and a beta of 0.33. MCCORMICK & CO /SH NV has a 52 week low of $112.22 and a 52 week high of $180.38. The company has a quick ratio of 0.33, a current ratio of 0.74 and a debt-to-equity ratio of 1.01.

MCCORMICK & CO /SH (NYSE:MKC) last issued its earnings results on Tuesday, March 31st. The company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.05. MCCORMICK & CO /SH had a return on equity of 20.53% and a net margin of 13.13%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. MCCORMICK & CO /SH’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts expect that MCCORMICK & CO /SH NV will post 5.2 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 13th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Thursday, April 9th. MCCORMICK & CO /SH’s payout ratio is presently 46.36%.

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

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