Public Sector Pension Investment Board Lowers Stock Holdings in MCCORMICK & CO /SH NV (NYSE:MKC)

Public Sector Pension Investment Board trimmed its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 10.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,265 shares of the company’s stock after selling 2,400 shares during the period. Public Sector Pension Investment Board’s holdings in MCCORMICK & CO /SH were worth $3,609,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MKC. Neville Rodie & Shaw Inc. raised its holdings in MCCORMICK & CO /SH by 13.3% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 8,300 shares of the company’s stock worth $1,409,000 after acquiring an additional 975 shares during the last quarter. Diversified Trust Co grew its position in MCCORMICK & CO /SH by 12.9% in the 4th quarter. Diversified Trust Co now owns 1,661 shares of the company’s stock worth $282,000 after purchasing an additional 190 shares during the period. State Street Corp grew its position in MCCORMICK & CO /SH by 1.3% in the 3rd quarter. State Street Corp now owns 6,810,527 shares of the company’s stock worth $1,064,485,000 after purchasing an additional 85,607 shares during the period. Stifel Financial Corp grew its position in MCCORMICK & CO /SH by 38.4% in the 4th quarter. Stifel Financial Corp now owns 451,376 shares of the company’s stock worth $77,102,000 after purchasing an additional 125,121 shares during the period. Finally, F3Logic LLC grew its position in MCCORMICK & CO /SH by 15.0% in the 4th quarter. F3Logic LLC now owns 12,213 shares of the company’s stock worth $2,092,000 after purchasing an additional 1,593 shares during the period. Hedge funds and other institutional investors own 77.84% of the company’s stock.

MCCORMICK & CO /SH stock traded up $7.62 during mid-day trading on Thursday, hitting $131.81. The stock had a trading volume of 74,168 shares, compared to its average volume of 1,588,909. The firm has a market capitalization of $16.60 billion, a P/E ratio of 25.07, a P/E/G ratio of 4.57 and a beta of 0.22. The company has a current ratio of 0.72, a quick ratio of 0.35 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $150.39 and its 200 day moving average is $161.48. MCCORMICK & CO /SH NV has a one year low of $112.22 and a one year high of $174.58.

MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.61 EPS for the quarter, hitting the consensus estimate of $1.61. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.52 billion. MCCORMICK & CO /SH had a net margin of 13.14% and a return on equity of 21.00%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 EPS. As a group, equities research analysts forecast that MCCORMICK & CO /SH NV will post 5.24 earnings per share for the current year.

A number of research firms have commented on MKC. Jefferies Financial Group reaffirmed a “sell” rating and issued a $150.00 target price on shares of MCCORMICK & CO /SH in a research report on Tuesday, January 28th. ValuEngine downgraded shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. UBS Group downgraded shares of MCCORMICK & CO /SH from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $175.00 to $140.00 in a research report on Thursday, March 19th. Deutsche Bank cut their price objective on shares of MCCORMICK & CO /SH from $163.00 to $139.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Bank of America downgraded shares of MCCORMICK & CO /SH from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $175.00 to $140.00 in a research report on Thursday, March 19th. Five equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $149.00.

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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