Sandy Spring Bank lowered its holdings in shares of MCCORMICK & Co/SH SH NV (NYSE:MKC) by 6.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,772 shares of the company’s stock after selling 1,045 shares during the quarter. Sandy Spring Bank’s holdings in MCCORMICK & Co/SH SH NV were worth $1,715,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MKC. Tiverton Asset Management LLC purchased a new stake in shares of MCCORMICK & Co/SH SH NV in the first quarter valued at $105,000. Signaturefd LLC purchased a new stake in shares of MCCORMICK & Co/SH SH NV in the first quarter valued at $116,000. IMS Capital Management purchased a new stake in shares of MCCORMICK & Co/SH SH NV in the second quarter valued at $128,000. Squar Milner Financial Services LLC purchased a new stake in shares of MCCORMICK & Co/SH SH NV in the second quarter valued at $135,000. Finally, Financial Gravity Wealth Inc. purchased a new stake in shares of MCCORMICK & Co/SH SH NV in the first quarter valued at $192,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

MKC has been the topic of several recent analyst reports. Credit Suisse Group increased their target price on shares of MCCORMICK & Co/SH SH NV from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, June 29th. Zacks Investment Research raised shares of MCCORMICK & Co/SH SH NV from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $123.00 target price on shares of MCCORMICK & Co/SH SH NV in a research note on Thursday, June 28th. Citigroup increased their target price on shares of MCCORMICK & Co/SH SH NV from $114.00 to $117.00 and gave the company a “neutral” rating in a research note on Friday, June 29th. Finally, Vertical Group downgraded shares of MCCORMICK & Co/SH SH NV from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. They noted that the move was a valuation call. One 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. The company currently has a consensus rating of “Hold” and a consensus price target of $114.25.

In related news, VP Michael R. Smith sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $119.90, for a total value of $959,200.00. Following the transaction, the vice president now owns 22,759 shares of the company’s stock, valued at approximately $2,728,804.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alan D. Wilson sold 158,600 shares of the firm’s stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $110.00, for a total transaction of $17,446,000.00. Following the completion of the transaction, the director now directly owns 212,894 shares in the company, valued at approximately $23,418,340. The disclosure for this sale can be found here. Company insiders own 19.20% of the company’s stock.

MCCORMICK & Co/SH SH NV opened at $120.97 on Wednesday, MarketBeat.com reports. The stock has a market capitalization of $15.95 billion, a P/E ratio of 28.40, a P/E/G ratio of 2.72 and a beta of 0.57. MCCORMICK & Co/SH SH NV has a 12 month low of $92.93 and a 12 month high of $122.58. The company has a current ratio of 0.85, a quick ratio of 0.42 and a debt-to-equity ratio of 1.47.

MCCORMICK & Co/SH SH NV (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 28th. The company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.09. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate 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 firm’s revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 EPS. equities research analysts expect that MCCORMICK & Co/SH SH NV will post 4.96 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 23rd. Investors of record on Monday, July 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, July 6th. MCCORMICK & Co/SH SH NV’s dividend 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.

See Also: Short Selling

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

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