Cox Capital Mgt LLC Grows Stake in MCCORMICK & CO /SH NV (NYSE:MKC)

Cox Capital Mgt LLC boosted its stake in MCCORMICK & CO /SH NV (NYSE:MKC) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,957 shares of the company’s stock after acquiring an additional 143 shares during the quarter. Cox Capital Mgt LLC’s holdings in MCCORMICK & CO /SH were worth $1,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MKC. Highstreet Asset Management Inc. raised its stake in MCCORMICK & CO /SH by 1.9% in the fourth quarter. Highstreet Asset Management Inc. now owns 4,282 shares of the company’s stock valued at $596,000 after buying an additional 80 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of MCCORMICK & CO /SH by 1.8% in the 4th 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 period. Stone Ridge Asset Management LLC raised its holdings in shares of MCCORMICK & CO /SH by 1.0% in the 4th 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 period. Cetera Advisors LLC raised its holdings in MCCORMICK & CO /SH by 6.2% during the 4th quarter. Cetera Advisors LLC now owns 1,706 shares of the company’s stock valued at $238,000 after acquiring an additional 100 shares during the period. Finally, Comerica Securities Inc. raised its holdings in MCCORMICK & CO /SH by 1.8% during the 4th quarter. Comerica Securities Inc. now owns 6,204 shares of the company’s stock valued at $867,000 after acquiring an additional 108 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Shares of NYSE MKC traded down $0.36 during trading hours on Thursday, hitting $150.97. 649,500 shares of the stock were exchanged, compared to its average volume of 1,302,959. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.21. The firm has a market cap of $19.97 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 3.19 and a beta of 0.26. MCCORMICK & CO /SH NV has a 12 month low of $99.53 and a 12 month high of $156.00.

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

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Friday, April 5th. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 45.88%.

In other news, major shareholder Alan D. Wilson sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $140.00, for a total value of $12,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Alan D. Wilson sold 94,400 shares of the firm’s 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 completion of the transaction, 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. In the last ninety days, insiders have sold 195,600 shares of company stock valued at $28,628,076. 11.00% of the stock is currently owned by insiders.

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

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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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