MCCORMICK & CO /SH NV (MKC) Position Trimmed by Murphy Capital Management Inc.
Murphy Capital Management Inc. decreased its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,625 shares of the company’s stock after selling 175 shares during the quarter. Murphy Capital Management Inc.’s holdings in MCCORMICK & CO /SH were worth $504,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in MKC. Winthrop Partners WNY LLC acquired a new stake in MCCORMICK & CO /SH during the 4th quarter valued at $28,000. Financial Advantage Inc. acquired a new stake in MCCORMICK & CO /SH during the 4th quarter valued at $41,000. Ancora Advisors LLC acquired a new stake in MCCORMICK & CO /SH during the 3rd quarter valued at $105,000. Financial Gravity Companies Inc. acquired a new stake in MCCORMICK & CO /SH during the 4th quarter valued at $112,000. Finally, Belpointe Asset Management LLC acquired a new stake in MCCORMICK & CO /SH during the 3rd quarter valued at $117,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.
MKC has been the subject of a number of recent analyst reports. Credit Suisse Group set a $108.00 price target on MCCORMICK & CO /SH and gave the company a “buy” rating in a report on Thursday, December 20th. Deutsche Bank raised MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Consumer Edge raised MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 25th. Jefferies Financial Group reissued a “buy” rating and issued a $150.00 target price on shares of MCCORMICK & CO /SH in a research note on Monday, January 28th. Finally, Zacks Investment Research cut MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Tuesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $130.63.
MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings data on Thursday, January 24th. The company reported $1.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.70 by ($0.03). The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.55 billion. MCCORMICK & CO /SH had a net margin of 17.26% and a return on equity of 21.34%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.54 earnings per share. On average, sell-side analysts anticipate that MCCORMICK & CO /SH NV will post 5.25 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, January 14th. Shareholders of record on Monday, December 31st were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, December 28th. This represents a $2.28 dividend on an annualized basis and a yield of 1.80%. This is a boost from MCCORMICK & CO /SH’s previous quarterly dividend of $0.52. MCCORMICK & CO /SH’s dividend payout ratio is 45.88%.
In other news, VP Christina M. Mcmullen sold 400 shares of the stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $147.44, for a total transaction of $58,976.00. Following the transaction, the vice president now owns 624 shares of the company’s stock, valued at approximately $92,002.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.20% of the company’s stock.
MCCORMICK & CO /SH 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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