Waratah Capital Advisors Ltd. Invests $3.40 Million in MCCORMICK & CO /SH NV (NYSE:MKC)
Waratah Capital Advisors Ltd. bought a new position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) in the second quarter, Holdings Channel.com reports. The fund bought 21,904 shares of the company’s stock, valued at approximately $3,395,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Private Ocean LLC bought a new stake in MCCORMICK & CO /SH in the first quarter valued at $27,000. Winslow Evans & Crocker Inc. bought a new stake in shares of MCCORMICK & CO /SH during the first quarter worth about $36,000. Glassman Wealth Services increased its position in shares of MCCORMICK & CO /SH by 43.7% during the first quarter. Glassman Wealth Services now owns 240 shares of the company’s stock worth $36,000 after acquiring an additional 73 shares in the last quarter. Ascent Wealth Partners LLC bought a new stake in shares of MCCORMICK & CO /SH during the first quarter worth about $41,000. Finally, Farmers National Bank bought a new stake in shares of MCCORMICK & CO /SH during the first quarter worth about $45,000. 79.59% of the stock is owned by institutional investors and hedge funds.
MCCORMICK & CO /SH stock traded down $0.48 during midday trading on Monday, hitting $162.09. 9,529 shares of the stock were exchanged, compared to its average volume of 645,194. MCCORMICK & CO /SH NV has a 52-week low of $116.00 and a 52-week high of $163.01. The company has a market capitalization of $21.48 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 3.83 and a beta of 0.21. The stock’s 50-day simple moving average is $157.53. 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 also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, July 5th. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is presently 45.88%.
MKC has been the subject of several recent research reports. UBS Group set a $170.00 target price on shares of United Rentals and gave the stock a “buy” rating in a research report on Friday, June 28th. Citigroup reissued a “buy” rating on shares of Healthequity in a research report on Friday, June 28th. Deutsche Bank set a $142.00 target price on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research report on Friday, June 28th. Zacks Investment Research raised shares of Icon from a “hold” rating to a “buy” rating and set a $157.00 target price for the company in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of in a research report on Friday, June 28th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. MCCORMICK & CO /SH has an average rating of “Hold” and an average price target of $142.67.
In other MCCORMICK & CO /SH news, Director Margaret M. V. Preston sold 3,865 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $154.31, for a total value of $596,408.15. Following the transaction, the director now directly owns 30,674 shares in the company, valued at $4,733,304.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael R. Smith sold 9,100 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $160.84, for a total transaction of $1,463,644.00. Following the completion of the transaction, the vice president now owns 30,453 shares in the company, valued at $4,898,060.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,035 shares of company stock worth $2,378,874. 11.00% of the stock is owned by corporate insiders.
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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