Northern Trust Corp lessened its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 1,527,163 shares of the company’s stock after selling 17,956 shares during the quarter. Northern Trust Corp’s holdings in MCCORMICK & CO /SH were worth $236,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Private Ocean LLC acquired a new stake in shares of MCCORMICK & CO /SH in the first quarter valued at approximately $27,000. Glassman Wealth Services boosted its stake in shares of MCCORMICK & CO /SH by 43.7% during the 1st quarter. Glassman Wealth Services now owns 240 shares of the company’s stock worth $36,000 after buying an additional 73 shares during the last quarter. Capital Investment Advisory Services LLC boosted its stake in shares of MCCORMICK & CO /SH by 40.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock worth $39,000 after buying an additional 70 shares during the last quarter. Ascent Wealth Partners LLC bought a new position in shares of MCCORMICK & CO /SH in the 1st quarter valued at about $41,000. Finally, Farmers National Bank bought a new position in shares of MCCORMICK & CO /SH in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 80.19% of the company’s stock.

Several analysts have issued reports on MKC shares. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price target on the stock in a research report on Thursday, May 30th. Deutsche Bank set a $142.00 price target on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research note on Friday, June 28th. Citigroup lifted their price objective on shares of MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. lowered shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $154.00 to $150.00 in a research note on Tuesday, August 20th. Finally, UBS Group set a $155.00 target price on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $142.89.

MKC traded up $2.06 during trading hours on Wednesday, reaching $158.06. The company’s stock had a trading volume of 16,918 shares, compared to its average volume of 801,341. MCCORMICK & CO /SH NV has a 52 week low of $119.00 and a 52 week high of $171.10. The company’s 50-day moving average is $162.56 and its 200-day moving average is $154.21. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.35 and a current ratio of 0.79. The firm has a market cap of $21.36 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 3.80 and a beta of 0.16.

MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 27th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.07. MCCORMICK & CO /SH had a return on equity of 21.42% and a net margin of 12.73%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm posted $1.02 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. Equities analysts anticipate that MCCORMICK & CO /SH NV will post 5.3 earnings per share for the current fiscal year.

In other news, Director Jacques Tapiero sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $169.21, for a total transaction of $423,025.00. Following the completion of the sale, the director now owns 10,868 shares in the company, valued at $1,838,974.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Nneka Louise Rimmer sold 2,070 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 6,209 shares in the company, valued at approximately $956,310.18. The disclosure for this sale can be found here. Insiders sold 43,272 shares of company stock worth $7,197,181 over the last three months. Insiders own 11.00% of the company’s stock.

MCCORMICK & CO /SH Company 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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