Financial Gravity Wealth Inc. Invests $134,000 in MCCORMICK & CO /SH NV (MKC)

Financial Gravity Wealth Inc. purchased a new position in MCCORMICK & CO /SH NV (NYSE:MKC) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 891 shares of the company’s stock, valued at approximately $134,000.

Other large investors have also bought and sold shares of the company. Highstreet Asset Management Inc. increased its position in MCCORMICK & CO /SH by 1.9% during the fourth quarter. Highstreet Asset Management Inc. now owns 4,282 shares of the company’s stock worth $596,000 after purchasing an additional 80 shares during the last quarter. Thrivent Financial for Lutherans increased its position in MCCORMICK & CO /SH by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 5,301 shares of the company’s stock worth $738,000 after purchasing an additional 93 shares during the last quarter. Stone Ridge Asset Management LLC increased its position in MCCORMICK & CO /SH by 1.0% during the fourth quarter. Stone Ridge Asset Management LLC now owns 10,371 shares of the company’s stock worth $1,444,000 after purchasing an additional 100 shares during the last quarter. Cetera Advisors LLC increased its position in MCCORMICK & CO /SH by 6.2% during the fourth quarter. Cetera Advisors LLC now owns 1,706 shares of the company’s stock worth $238,000 after purchasing an additional 100 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in MCCORMICK & CO /SH by 1.6% during the first quarter. Louisiana State Employees Retirement System now owns 6,500 shares of the company’s stock worth $979,000 after purchasing an additional 100 shares during the last quarter. 80.35% of the stock is currently owned by hedge funds and other institutional investors.

In other MCCORMICK & CO /SH news, major shareholder Alan D. Wilson sold 94,400 shares of MCCORMICK & CO /SH stock in a transaction dated 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 completion of the sale, the insider now directly owns 206,553 shares in the company, valued at $31,286,582.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Alan D. Wilson sold 90,000 shares of MCCORMICK & CO /SH stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $140.00, for a total transaction of $12,600,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,600 shares of company stock valued at $28,628,076. Company insiders own 11.00% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research report on Tuesday, April 2nd. Jefferies Financial Group restated a “buy” rating and set a $150.00 price objective on shares of MCCORMICK & CO /SH in a research report on Tuesday, March 26th. Deutsche Bank upgraded shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Finally, Consumer Edge upgraded shares of MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 25th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $132.57.

Shares of MKC opened at $154.38 on Friday. MCCORMICK & CO /SH NV has a 1-year low of $99.53 and a 1-year high of $156.00. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 3.25 and a beta of 0.26. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.21.

MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the business earned $1.00 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts predict that MCCORMICK & CO /SH NV will post 5.27 earnings per share for the current fiscal year.

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

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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.

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

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