Boston Private Wealth LLC lifted its position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 8.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,777 shares of the company’s stock after buying an additional 138 shares during the period. Boston Private Wealth LLC’s holdings in MCCORMICK & CO /SH were worth $278,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MKC. Krane Funds Advisors LLC bought a new position in MCCORMICK & CO /SH during the 2nd quarter worth approximately $26,000. Mercer Capital Advisers Inc. bought a new position in MCCORMICK & CO /SH during the 3rd quarter worth approximately $31,000. Capital Investment Advisory Services LLC grew its position in MCCORMICK & CO /SH by 40.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares during the last quarter. Private Ocean LLC grew its position in MCCORMICK & CO /SH by 72.9% during the 2nd quarter. Private Ocean LLC now owns 313 shares of the company’s stock worth $48,000 after acquiring an additional 132 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its position in MCCORMICK & CO /SH by 277.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 317 shares of the company’s stock worth $49,000 after acquiring an additional 233 shares during the last quarter. 80.04% of the stock is currently owned by institutional investors.
Shares of MKC stock opened at $159.69 on Friday. The firm has a market cap of $21.14 billion, a P/E ratio of 32.13, a P/E/G ratio of 3.69 and a beta of 0.13. MCCORMICK & CO /SH NV has a fifty-two week low of $119.00 and a fifty-two week high of $171.10. The business’s 50 day moving average price is $161.88 and its 200-day moving average price is $159.14. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.37 and a current ratio of 0.78.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a $0.57 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.43%. MCCORMICK & CO /SH’s dividend payout ratio is currently 45.88%.
In related news, insider Malcolm Swift sold 27,200 shares of MCCORMICK & CO /SH stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $169.28, for a total transaction of $4,604,416.00. Following the sale, the insider now directly owns 50,039 shares in the company, valued at $8,470,601.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret M. V. Preston sold 2,402 shares of MCCORMICK & CO /SH stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $161.23, for a total value of $387,274.46. Following the sale, the director now owns 28,370 shares in the company, valued at $4,574,095.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,902 shares of company stock worth $6,725,405. Corporate insiders own 11.00% of the company’s stock.
MKC has been the topic of several recent research reports. ValuEngine lowered MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Credit Suisse Group raised their price target on MCCORMICK & CO /SH from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $154.00 to $150.00 in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $154.86.
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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