Profund Advisors LLC Raises Stock Position in MCCORMICK & CO /SH NV (NYSE:MKC)

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Profund Advisors LLC boosted its position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 5.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,424 shares of the company’s stock after purchasing an additional 124 shares during the period. Profund Advisors LLC’s holdings in MCCORMICK & CO /SH were worth $376,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new stake in shares of MCCORMICK & CO /SH during the second quarter valued at about $26,000. Glassman Wealth Services increased its position in shares of MCCORMICK & CO /SH by 43.7% during the first quarter. Glassman Wealth Services now owns 240 shares of the company’s stock valued at $36,000 after acquiring an additional 73 shares during the last quarter. Capital Investment Advisory Services LLC increased its position in shares of MCCORMICK & CO /SH by 40.0% during the second quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. Ascent Wealth Partners LLC acquired a new stake in shares of MCCORMICK & CO /SH during the first quarter valued at about $41,000. Finally, Private Ocean LLC increased its position in shares of MCCORMICK & CO /SH by 72.9% during the second quarter. Private Ocean LLC now owns 313 shares of the company’s stock valued at $48,000 after acquiring an additional 132 shares during the last quarter. 80.25% of the stock is currently owned by institutional investors.

Shares of MKC stock traded up $0.11 during trading on Friday, reaching $160.14. The company’s stock had a trading volume of 802,110 shares, compared to its average volume of 643,818. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.79 and a quick ratio of 0.35. The company has a market capitalization of $21.10 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 3.77 and a beta of 0.16. The stock’s 50-day moving average price is $162.11 and its 200 day moving average price is $155.25. MCCORMICK & CO /SH NV has a 1-year low of $119.00 and a 1-year high of $171.10.

MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 27th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. MCCORMICK & CO /SH had a net margin of 12.73% and a return on equity of 21.42%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 earnings per share. On average, sell-side analysts anticipate that MCCORMICK & CO /SH NV will post 5.28 EPS for the current fiscal year.

MKC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $154.00 to $150.00 in a research report on Tuesday, August 20th. Zacks Investment Research upgraded shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price target for the company in a research report on Thursday, May 30th. UBS Group set a $155.00 price target on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. Citigroup lifted 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 report on Friday, June 28th. Finally, Deutsche Bank set a $142.00 price target on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $142.89.

In related news, Director Jacques Tapiero sold 2,500 shares of MCCORMICK & CO /SH stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $169.21, for a total value of $423,025.00. Following the completion of the transaction, the director now owns 10,868 shares in the company, valued at $1,838,974.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Malcolm Swift sold 27,200 shares of MCCORMICK & CO /SH stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $169.28, for a total transaction of $4,604,416.00. Following the completion of the transaction, the insider now owns 50,039 shares of the company’s stock, valued at approximately $8,470,601.92. The disclosure for this sale can be found here. Insiders sold 43,272 shares of company stock valued at $7,197,181 in the last 90 days. Company insiders own 11.00% of the company’s stock.

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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