Nissay Asset Management Corp Japan ADV cut its holdings in MCCORMICK & Co/SH SH NV (NYSE:MKC) by 1.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,509 shares of the company’s stock after selling 472 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in MCCORMICK & Co/SH SH NV were worth $2,845,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tiverton Asset Management LLC acquired a new stake in shares of MCCORMICK & Co/SH SH NV in the first quarter valued at approximately $105,000. Signaturefd LLC acquired a new stake in shares of MCCORMICK & Co/SH SH NV in the first quarter valued at approximately $116,000. IMS Capital Management acquired a new stake in shares of MCCORMICK & Co/SH SH NV in the second quarter valued at approximately $128,000. Squar Milner Financial Services LLC acquired a new stake in shares of MCCORMICK & Co/SH SH NV in the second quarter valued at approximately $135,000. Finally, Smithfield Trust Co. raised its holdings in shares of MCCORMICK & Co/SH SH NV by 219.1% in the second quarter. Smithfield Trust Co. now owns 1,736 shares of the company’s stock valued at $202,000 after purchasing an additional 1,192 shares during the last quarter. Institutional investors own 81.02% of the company’s stock.

In related news, VP Michael R. Smith sold 8,000 shares of the firm’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $119.90, for a total value of $959,200.00. Following the completion of the transaction, the vice president now directly owns 22,759 shares of the company’s stock, valued at $2,728,804.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan D. Wilson sold 100,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $26,675,618.20. The disclosure for this sale can be found here. Insiders sold 266,600 shares of company stock valued at $30,935,200 over the last three months. 19.20% of the stock is owned by company insiders.

NYSE:MKC opened at $126.53 on Tuesday. MCCORMICK & Co/SH SH NV has a 1-year low of $93.70 and a 1-year high of $126.87. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.85 and a quick ratio of 0.42. The firm has a market capitalization of $16.59 billion, a P/E ratio of 29.70, a PEG ratio of 2.83 and a beta of 0.57.

MCCORMICK & Co/SH SH NV (NYSE:MKC) last released its earnings results 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. MCCORMICK & Co/SH SH NV had a net margin of 15.83% and a return on equity of 21.98%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the business earned $0.82 earnings per share. The firm’s revenue was up 19.1% on a year-over-year basis. sell-side analysts anticipate that MCCORMICK & Co/SH SH NV will post 4.96 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 23rd. Investors of record on Monday, July 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, July 6th. This represents a $2.08 annualized dividend and a dividend yield of 1.64%. MCCORMICK & Co/SH SH NV’s dividend payout ratio is presently 48.83%.

A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of MCCORMICK & Co/SH SH NV from a “sell” rating to a “hold” rating in a report on Monday, June 11th. ValuEngine upgraded shares of MCCORMICK & Co/SH SH NV from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Citigroup lifted 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 report on Friday, June 29th. Vertical Group downgraded shares of MCCORMICK & Co/SH SH NV from a “buy” rating to a “hold” rating in a report on Friday, June 29th. They noted that the move was a valuation call. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $123.00 price objective on shares of MCCORMICK & Co/SH SH NV in a report on Thursday, June 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. MCCORMICK & Co/SH SH NV currently has a consensus rating of “Hold” and a consensus price target of $114.25.

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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