Veritable L.P. Decreases Stock Holdings in MCCORMICK & CO /SH NV (NYSE:MKC)

Veritable L.P. trimmed its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,147 shares of the company’s stock after selling 168 shares during the period. Veritable L.P.’s holdings in MCCORMICK & CO /SH were worth $1,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Comerica Securities Inc. increased its stake in shares of MCCORMICK & CO /SH by 1.8% in the fourth quarter. Comerica Securities Inc. now owns 6,204 shares of the company’s stock valued at $867,000 after buying an additional 108 shares during the period. Geode Capital Management LLC increased its stake in shares of MCCORMICK & CO /SH by 15.9% in the fourth quarter. Geode Capital Management LLC now owns 1,800,426 shares of the company’s stock valued at $250,306,000 after buying an additional 247,249 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of MCCORMICK & CO /SH in the first quarter valued at approximately $274,000. Dupont Capital Management Corp increased its stake in shares of MCCORMICK & CO /SH by 57.8% in the first quarter. Dupont Capital Management Corp now owns 3,002 shares of the company’s stock valued at $452,000 after buying an additional 1,100 shares during the period. Finally, First Republic Investment Management Inc. increased its stake in shares of MCCORMICK & CO /SH by 2.0% in the first quarter. First Republic Investment Management Inc. now owns 16,540 shares of the company’s stock valued at $2,491,000 after buying an additional 329 shares during the period. Institutional investors own 79.90% of the company’s stock.

In related news, Director Margaret M. V. Preston sold 2,402 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $161.23, for a total value of $387,274.46. Following the completion of the sale, the director now directly owns 28,370 shares of the company’s stock, valued at approximately $4,574,095.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Nneka Louise Rimmer sold 2,070 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $154.02, for a total value of $318,821.40. Following the completion of the sale, the vice president now directly owns 6,209 shares of the company’s stock, valued at $956,310.18. The disclosure for this sale can be found here. Insiders have sold a total of 43,272 shares of company stock worth $7,197,181 over the last 90 days. Company insiders own 11.00% of the company’s stock.

MKC has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $154.00 to $150.00 in a research note on Tuesday, August 20th. 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. Deutsche Bank set a $142.00 target price on MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. Citigroup upped their target price on MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Finally, Zacks Investment Research upgraded 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $142.89.

MKC stock traded up $0.44 during trading on Friday, hitting $164.19. The company had a trading volume of 8,168 shares, compared to its average volume of 810,417. The business has a 50-day moving average of $162.23 and a 200-day moving average of $153.40. MCCORMICK & CO /SH NV has a one year low of $119.00 and a one year high of $171.10. The stock has a market cap of $21.70 billion, a PE ratio of 33.04, a PEG ratio of 3.90 and a beta of 0.16. The company has a current ratio of 0.79, a quick ratio of 0.35 and a debt-to-equity ratio of 1.18.

MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 27th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. MCCORMICK & CO /SH had a return on equity of 21.42% and a net margin of 12.73%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 EPS. Research analysts forecast that MCCORMICK & CO /SH NV will post 5.3 EPS for the current year.

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

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