Trust Co. of Oklahoma raised its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,853 shares of the company’s stock after acquiring an additional 250 shares during the period. MCCORMICK & CO /SH comprises approximately 1.2% of Trust Co. of Oklahoma’s investment portfolio, making the stock its 23rd largest holding. Trust Co. of Oklahoma’s holdings in MCCORMICK & CO /SH were worth $2,612,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the business. Moseley Investment Management Inc. purchased a new stake in shares of MCCORMICK & CO /SH during the 1st quarter valued at $1,165,000. Fruth Investment Management increased its holdings in MCCORMICK & CO /SH by 1.8% in the 1st quarter. Fruth Investment Management now owns 21,465 shares of the company’s stock worth $3,233,000 after acquiring an additional 375 shares during the last quarter. Pratt Collard Advisory Partners LLC increased its holdings in MCCORMICK & CO /SH by 24.3% in the 1st quarter. Pratt Collard Advisory Partners LLC now owns 2,120 shares of the company’s stock worth $319,000 after acquiring an additional 415 shares during the last quarter. First Trust Advisors LP increased its holdings in MCCORMICK & CO /SH by 7.6% in the 1st quarter. First Trust Advisors LP now owns 227,046 shares of the company’s stock worth $34,200,000 after acquiring an additional 16,076 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in MCCORMICK & CO /SH in the 4th quarter worth about $448,000. Institutional investors and hedge funds own 79.61% of the company’s stock.
NYSE:MKC traded down $3.92 during mid-day trading on Monday, reaching $155.26. The stock had a trading volume of 576,848 shares, compared to its average volume of 627,615. The company has a 50 day moving average price of $158.02. The company has a market capitalization of $21.10 billion, a PE ratio of 31.24, a P/E/G ratio of 3.75 and a beta of 0.18. MCCORMICK & CO /SH NV has a one year low of $119.00 and a one year high of $163.70. The company has a quick ratio of 0.35, a current ratio of 0.79 and a debt-to-equity ratio of 1.18.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.28 annualized dividend and a dividend yield of 1.47%. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 45.88%.
In other news, Director Margaret M. V. Preston sold 3,865 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $154.31, for a total transaction of $596,408.15. Following the transaction, the director now directly owns 30,674 shares of the company’s stock, valued at $4,733,304.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael R. Smith sold 9,100 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $160.84, for a total value of $1,463,644.00. Following the transaction, the vice president now directly owns 30,453 shares in the company, valued at $4,898,060.52. The disclosure for this sale can be found here. Insiders have sold 15,035 shares of company stock worth $2,378,874 over the last three months. Insiders own 11.00% of the company’s stock.
Several equities research analysts recently weighed in on MKC shares. Citigroup lifted their price objective on MCCORMICK & CO /SH from $155.00 to $166.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Zacks Investment Research raised MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 target price for the company in a report on Thursday, May 30th. Deutsche Bank set a $142.00 target price on MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. UBS Group set a $155.00 target price on MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. lifted their target price on MCCORMICK & CO /SH from $143.00 to $148.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $142.67.
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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