Allianz Asset Management GmbH increased its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 406.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,838 shares of the company’s stock after purchasing an additional 30,361 shares during the period. Allianz Asset Management GmbH’s holdings in MCCORMICK & CO /SH were worth $5,865,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Private Ocean LLC acquired a new stake in shares of MCCORMICK & CO /SH in the first quarter worth approximately $27,000. Glassman Wealth Services boosted its position in shares of MCCORMICK & CO /SH by 43.7% in the first quarter. Glassman Wealth Services now owns 240 shares of the company’s stock worth $36,000 after acquiring an additional 73 shares during the last quarter. Ascent Wealth Partners LLC acquired a new stake in shares of MCCORMICK & CO /SH in the first quarter worth approximately $41,000. Farmers National Bank acquired a new stake in shares of MCCORMICK & CO /SH in the first quarter worth approximately $45,000. Finally, Valeo Financial Advisors LLC boosted its position in shares of MCCORMICK & CO /SH by 277.4% in the second quarter. Valeo Financial Advisors LLC now owns 317 shares of the company’s stock worth $49,000 after acquiring an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 80.19% of the company’s stock.
Several research firms recently commented on MKC. Zacks Investment Research upgraded shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price target on the stock in a report on Thursday, May 30th. Deutsche Bank set a $142.00 price objective on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research note on Friday, June 28th. UBS Group set a $155.00 price target on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, June 28th. Citigroup lifted their price target on shares of MCCORMICK & CO /SH from $155.00 to $166.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. downgraded shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $154.00 to $150.00 in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. MCCORMICK & CO /SH has an average rating of “Hold” and a consensus price target of $142.89.
In other news, VP Nneka Louise Rimmer sold 2,070 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $154.02, for a total transaction of $318,821.40. Following the sale, the vice president now owns 6,209 shares of the company’s stock, valued at $956,310.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Margaret M. V. Preston sold 2,402 shares of MCCORMICK & CO /SH stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $161.23, for a total value of $387,274.46. Following the transaction, the director now owns 28,370 shares of the company’s stock, valued at $4,574,095.10. The disclosure for this sale can be found here. Insiders have sold 43,272 shares of company stock valued at $7,197,181 in the last ninety days. Company insiders own 11.00% of the company’s stock.
MKC stock opened at $157.81 on Friday. The company has a 50-day simple moving average of $162.54 and a 200 day simple moving average of $154.32. 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 company has a market capitalization of $20.67 billion, a P/E ratio of 31.75, a PEG ratio of 3.69 and a beta of 0.16. MCCORMICK & CO /SH NV has a fifty-two week low of $119.00 and a fifty-two week high of $171.10.
MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 27th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.07. MCCORMICK & CO /SH had a return on equity of 21.42% and a net margin of 12.73%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company earned $1.02 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts anticipate that MCCORMICK & CO /SH NV will post 5.28 EPS for the current year.
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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