Mission Wealth Management LP lifted its stake in MCCORMICK & Co/SH SH NV (NYSE:MKC) by 25.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,632 shares of the company’s stock after purchasing an additional 534 shares during the quarter. Mission Wealth Management LP’s holdings in MCCORMICK & Co/SH SH NV were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of MKC. Lord Abbett & CO. LLC purchased a new stake in shares of MCCORMICK & Co/SH SH NV in the first quarter worth approximately $45,205,000. Robeco Institutional Asset Management B.V. lifted its position in shares of MCCORMICK & Co/SH SH NV by 180.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 562,773 shares of the company’s stock worth $65,333,000 after purchasing an additional 361,921 shares in the last quarter. First Trust Advisors LP lifted its position in shares of MCCORMICK & Co/SH SH NV by 5,455.8% in the second quarter. First Trust Advisors LP now owns 338,960 shares of the company’s stock worth $39,350,000 after purchasing an additional 332,859 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of MCCORMICK & Co/SH SH NV by 10,866.4% in the first quarter. Summit Trail Advisors LLC now owns 265,277 shares of the company’s stock worth $265,000 after purchasing an additional 262,858 shares in the last quarter. Finally, Select Equity Group L.P. purchased a new stake in shares of MCCORMICK & Co/SH SH NV in the first quarter worth approximately $22,839,000. 79.36% of the stock is owned by institutional investors and hedge funds.

In other news, Director Alan D. Wilson sold 158,600 shares of MCCORMICK & Co/SH SH NV stock in a transaction that occurred on Thursday, June 28th. The shares were sold at an average price of $110.00, for a total value of $17,446,000.00. Following the transaction, the director now owns 212,894 shares of the company’s stock, valued at $23,418,340. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Alan D. Wilson sold 100,000 shares of MCCORMICK & Co/SH SH NV stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $125.30, for a total transaction of $12,530,000.00. Following the completion of the transaction, the director now directly owns 212,894 shares in the company, valued at approximately $26,675,618.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 266,600 shares of company stock worth $30,935,200. Insiders own 19.20% of the company’s stock.

Several equities analysts recently weighed in on MKC shares. ValuEngine raised shares of MCCORMICK & Co/SH SH NV from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $123.00 price objective on shares of MCCORMICK & Co/SH SH NV in a research report on Thursday, June 28th. Zacks Investment Research raised shares of MCCORMICK & Co/SH SH NV from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Vertical Group lowered shares of MCCORMICK & Co/SH SH NV from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. They noted that the move was a valuation call. Finally, Citigroup raised their price objective on shares of MCCORMICK & Co/SH SH NV from $114.00 to $117.00 and gave the company a “neutral” rating in a research report on Friday, June 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $114.25.

Shares of MKC opened at $126.40 on Friday. The company has a market cap of $15.88 billion, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 2.71 and a beta of 0.57. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.42 and a current ratio of 0.85. MCCORMICK & Co/SH SH NV has a twelve month low of $93.70 and a twelve month high of $126.54.

MCCORMICK & Co/SH SH NV (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 28th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.09. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. MCCORMICK & Co/SH SH NV had a net margin of 15.83% and a return on equity of 21.98%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. analysts predict that MCCORMICK & Co/SH SH NV will post 4.96 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 23rd. Investors of record on Monday, July 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, July 6th. MCCORMICK & Co/SH SH NV’s payout ratio is presently 48.83%.

About MCCORMICK & Co/SH SH NV

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

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