Sumitomo Mitsui Trust Holdings Inc. Increases Position in MCCORMICK & CO /SH NV (MKC)
Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 430,146 shares of the company’s stock after purchasing an additional 9,005 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.33% of MCCORMICK & CO /SH worth $56,672,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in MKC. Itau Unibanco Holding S.A. purchased a new stake in MCCORMICK & CO /SH during the 2nd quarter worth $111,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in MCCORMICK & CO /SH during the 2nd quarter worth $125,000. IMS Capital Management purchased a new stake in MCCORMICK & CO /SH during the 2nd quarter worth $128,000. Fort L.P. purchased a new stake in MCCORMICK & CO /SH during the 2nd quarter worth $134,000. Finally, Squar Milner Financial Services LLC purchased a new position in MCCORMICK & CO /SH in the 2nd quarter valued at about $135,000. 79.19% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Alan D. Wilson sold 111,000 shares of the stock in a transaction dated Friday, October 19th. The shares were 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 document filed with the SEC, which is available through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the sale, the director now owns 19,864 shares in the company, valued at approximately $2,820,688. The disclosure for this sale can be found here. Insiders have sold 217,200 shares of company stock worth $30,747,866 in the last ninety days. Corporate insiders own 19.20% of the company’s stock.
Shares of MKC stock opened at $150.00 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.36 and a debt-to-equity ratio of 1.37. MCCORMICK & CO /SH NV has a one year low of $98.34 and a one year high of $151.42. The stock has a market cap of $19.75 billion, a PE ratio of 35.21, a P/E/G ratio of 3.34 and a beta of 0.34.
MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings results on Thursday, September 27th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. MCCORMICK & CO /SH had a net margin of 16.57% and a return on equity of 21.83%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company posted $1.12 earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, 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. Stockholders of record on Tuesday, October 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, October 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.39%. MCCORMICK & CO /SH’s payout ratio is 48.83%.
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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 through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
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