Sigma Planning Corp Buys 2,593 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)
Sigma Planning Corp boosted its stake in MCCORMICK & CO /SH NV (NYSE:MKC) by 90.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,455 shares of the company’s stock after acquiring an additional 2,593 shares during the period. Sigma Planning Corp’s holdings in MCCORMICK & CO /SH were worth $853,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in MKC. Krane Funds Advisors LLC bought a new stake in MCCORMICK & CO /SH in the second quarter worth about $26,000. Mercer Capital Advisers Inc. purchased a new position in MCCORMICK & CO /SH during the third quarter valued at approximately $31,000. Capital Investment Advisory Services LLC grew its stake in 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 in the last quarter. Private Ocean LLC grew its stake in 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 in the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in MCCORMICK & CO /SH by 277.4% during the second quarter. Valeo Financial Advisors LLC now owns 317 shares of the company’s stock valued at $49,000 after acquiring an additional 233 shares in the last quarter. 80.04% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on MKC. JPMorgan Chase & Co. cut shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $154.00 to $150.00 in a research note on Tuesday, August 20th. ValuEngine cut shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Credit Suisse Group boosted their price target on shares of MCCORMICK & CO /SH from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $154.86.
MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 1st. The company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the company earned $1.28 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts expect that MCCORMICK & CO /SH NV will post 5.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid 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 yield of 1.42%. MCCORMICK & CO /SH’s dividend payout ratio is presently 45.88%.
In other news, Director Michael Aaron Conway sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $168.59, for a total value of $842,950.00. Following the completion of the sale, the director now directly owns 9,501 shares in the company, valued at approximately $1,601,773.59. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Malcolm Swift sold 27,200 shares of the business’s 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 completion of the sale, the insider now owns 50,039 shares of the company’s stock, valued at $8,470,601.92. The disclosure for this sale can be found here. In the last three months, insiders sold 39,902 shares of company stock valued at $6,725,405. Corporate 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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