Fenimore Asset Management Inc. Buys 465 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)

Fenimore Asset Management Inc. grew its stake in MCCORMICK & CO /SH NV (NYSE:MKC) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 76,292 shares of the company’s stock after buying an additional 465 shares during the quarter. Fenimore Asset Management Inc. owned 0.06% of MCCORMICK & CO /SH worth $11,826,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CWM Advisors LLC boosted its stake in shares of MCCORMICK & CO /SH by 8.3% in the 2nd quarter. CWM Advisors LLC now owns 3,384 shares of the company’s stock valued at $525,000 after buying an additional 259 shares during the period. Ferguson Wellman Capital Management Inc. lifted its stake in MCCORMICK & CO /SH by 3.1% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 82,016 shares of the company’s stock worth $12,713,000 after purchasing an additional 2,429 shares during the last quarter. Thoroughbred Financial Services LLC lifted its stake in MCCORMICK & CO /SH by 16,307.6% during the second quarter. Thoroughbred Financial Services LLC now owns 552,117 shares of the company’s stock worth $55,212,000 after purchasing an additional 548,752 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in MCCORMICK & CO /SH by 15.3% during the second quarter. IFM Investors Pty Ltd now owns 9,079 shares of the company’s stock worth $1,407,000 after purchasing an additional 1,208 shares during the last quarter. Finally, Legacy Financial Strategies LLC purchased a new stake in MCCORMICK & CO /SH during the second quarter worth approximately $750,000. Institutional investors and hedge funds own 79.22% of the company’s stock.

A number of equities research analysts have weighed in on MKC shares. Citigroup boosted their price objective on MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. upped 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. Zacks Investment Research raised MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 target price on the stock in a report on Thursday, May 30th. 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, Deutsche Bank set a $142.00 price objective on MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $142.67.

In other MCCORMICK & CO /SH news, VP Nneka Louise Rimmer sold 2,070 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $154.02, for a total transaction of $318,821.40. Following the transaction, the vice president now owns 6,209 shares of the company’s stock, valued at approximately $956,310.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael R. Smith sold 9,100 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was 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 approximately $4,898,060.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,035 shares of company stock valued at $2,378,874. 11.00% of the stock is owned by insiders.

Shares of NYSE:MKC opened at $169.00 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.79 and a quick ratio of 0.35. MCCORMICK & CO /SH NV has a 12 month low of $119.00 and a 12 month high of $170.09. The firm has a market capitalization of $22.15 billion, a PE ratio of 34.00, a P/E/G ratio of 3.94 and a beta of 0.18. The business has a 50-day moving average of $159.94 and a two-hundred day moving average of $149.87.

MCCORMICK & CO /SH (NYSE:MKC) last posted its earnings results on Thursday, June 27th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm earned $1.02 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts anticipate that MCCORMICK & CO /SH NV will post 5.3 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Shareholders 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 dividend on an annualized basis and a yield of 1.35%. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 45.88%.

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.

Further Reading: Leveraged Buyout (LBO) Explained

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

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