Bessemer Group Inc. reduced its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 14.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,679 shares of the company’s stock after selling 8,215 shares during the period. Bessemer Group Inc.’s holdings in MCCORMICK & CO /SH were worth $6,413,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in MCCORMICK & CO /SH in the 2nd quarter valued at approximately $111,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in MCCORMICK & CO /SH in the 2nd quarter valued at approximately $125,000. IMS Capital Management purchased a new position in MCCORMICK & CO /SH in the 2nd quarter valued at approximately $128,000. Fort L.P. purchased a new position in MCCORMICK & CO /SH in the 2nd quarter valued at approximately $134,000. Finally, Squar Milner Financial Services LLC purchased a new position in MCCORMICK & CO /SH in the 2nd quarter valued at approximately $135,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

In other news, major shareholder Alan D. Wilson sold 111,000 shares of the firm’s stock in a transaction on Friday, October 19th. The stock was sold at an average price of $140.59, for a total transaction of $15,605,490.00. Following the sale, the insider now owns 218,644 shares in the company, valued at $30,739,159.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Lawrence Erik Kurzius sold 51,300 shares of the firm’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $142.01, for a total value of $7,285,113.00. Following the sale, the chairman now owns 114,459 shares in the company, valued at approximately $16,254,322.59. The disclosure for this sale can be found here. Insiders have sold 216,800 shares of company stock worth $30,688,890 in the last 90 days. Insiders own 19.20% of the company’s stock.

MCCORMICK & CO /SH stock opened at $147.69 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.79 and a debt-to-equity ratio of 1.37. The firm has a market cap of $19.65 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 3.32 and a beta of 0.34. MCCORMICK & CO /SH NV has a fifty-two week low of $96.40 and a fifty-two week high of $151.42.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings results on Thursday, September 27th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. MCCORMICK & CO /SH had a return on equity of 21.83% and a net margin of 16.57%. MCCORMICK & CO /SH’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 earnings per share. On average, research analysts anticipate that MCCORMICK & CO /SH NV will post 4.99 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 23rd. Shareholders of record on Tuesday, October 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, October 5th. MCCORMICK & CO /SH’s payout ratio is 48.83%.

MKC has been the subject of several recent research reports. Zacks Investment Research raised MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Barclays reissued a “hold” rating and set a $129.00 price target on shares of MCCORMICK & CO /SH in a research report on Sunday, September 30th. Jefferies Financial Group set a $135.00 price target on MCCORMICK & CO /SH and gave the stock a “buy” rating in a research report on Thursday, September 27th. Stifel Nicolaus raised their price target on MCCORMICK & CO /SH from $117.00 to $125.00 and gave the stock a “hold” rating in a research report on Friday, September 28th. Finally, Credit Suisse Group set a $137.00 price target on MCCORMICK & CO /SH and gave the stock a “buy” rating in a research report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $125.89.

COPYRIGHT VIOLATION WARNING: “MCCORMICK & CO /SH NV (MKC) Shares Sold by Bessemer Group Inc.” was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this story on another domain, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this story can be viewed at https://www.dailypolitical.com/2018/11/15/mccormick-co-sh-nv-mkc-shares-sold-by-bessemer-group-inc.html.

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 through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

Further Reading: Discount Rate

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

Receive News & Ratings for MCCORMICK & CO /SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MCCORMICK & CO /SH and related companies with MarketBeat.com's FREE daily email newsletter.