Portland Global Advisors LLC boosted its stake in MCCORMICK & CO /SH NV (NYSE:MKC) by 10.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,387 shares of the company’s stock after purchasing an additional 1,160 shares during the quarter. Portland Global Advisors LLC’s holdings in MCCORMICK & CO /SH were worth $1,866,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Profit Investment Management LLC purchased a new stake in MCCORMICK & CO /SH in the 1st quarter worth $1,700,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of MCCORMICK & CO /SH during the 1st quarter valued at about $262,000. Truvestments Capital LLC purchased a new stake in MCCORMICK & CO /SH in the 1st quarter worth about $78,000. McCollum Christoferson Group LLC raised its position in MCCORMICK & CO /SH by 0.5% in the 1st quarter. McCollum Christoferson Group LLC now owns 35,836 shares of the company’s stock worth $5,398,000 after purchasing an additional 173 shares during the period. Finally, Wendell David Associates Inc. raised its position in MCCORMICK & CO /SH by 1.3% in the 1st quarter. Wendell David Associates Inc. now owns 118,928 shares of the company’s stock worth $17,914,000 after purchasing an additional 1,523 shares during the period. Institutional investors and hedge funds own 80.26% of the company’s stock.

In other news, VP Michael R. Smith sold 9,200 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $154.49, for a total transaction of $1,421,308.00. Following the transaction, the vice president now directly owns 30,553 shares in the company, valued at $4,720,132.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Alan D. Wilson sold 94,400 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $151.47, for a total transaction of $14,298,768.00. Following the sale, the insider now directly owns 206,553 shares of the company’s stock, valued at approximately $31,286,582.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,600 shares of company stock worth $28,320,076. Insiders own 11.00% of the company’s stock.

Shares of NYSE MKC traded up $0.49 during midday trading on Monday, reaching $154.35. 7,192 shares of the company’s stock traded hands, compared to its average volume of 1,285,021. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.34 and a current ratio of 0.78. MCCORMICK & CO /SH NV has a one year low of $99.53 and a one year high of $156.00. The company has a market cap of $20.40 billion, a PE ratio of 31.09, a P/E/G ratio of 3.25 and a beta of 0.26.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a dividend of $0.57 per share. The ex-dividend date is Friday, April 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.48%. MCCORMICK & CO /SH’s dividend payout ratio is presently 45.88%.

A number of brokerages have commented on MKC. Credit Suisse Group set a $108.00 target price on shares of MCCORMICK & CO /SH and gave the stock a “buy” rating in a research note on Thursday, December 20th. Consumer Edge upgraded shares of MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 25th. Zacks Investment Research downgraded shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. Deutsche Bank upgraded shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $150.00 target price on shares of MCCORMICK & CO /SH in a research note on Monday, January 28th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $132.57.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & international copyright and trademark laws. The correct version of this piece of content can be read at https://theolympiareport.com/2019/04/15/mccormick-co-sh-nv-mkc-position-lifted-by-portland-global-advisors-llc.html.

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.

See Also: Range Trading

Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MCCORMICK & CO /SH NV (NYSE:MKC).

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

Receive News & Ratings for MCCORMICK & CO /SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MCCORMICK & CO /SH and related companies with MarketBeat.com's FREE daily email newsletter.