Putnam Investments LLC lifted its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 23.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,567,422 shares of the company’s stock after buying an additional 489,488 shares during the period. Putnam Investments LLC’s holdings in MCCORMICK & CO /SH were worth $298,052,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of MKC. FMR LLC lifted its stake in shares of MCCORMICK & CO /SH by 89.1% in the second quarter. FMR LLC now owns 916,815 shares of the company’s stock worth $106,433,000 after buying an additional 431,896 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in MCCORMICK & CO /SH during the first quarter worth about $45,205,000. Robeco Institutional Asset Management B.V. raised its stake in MCCORMICK & CO /SH by 180.2% during 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 during the period. First Trust Advisors LP raised its stake in MCCORMICK & CO /SH by 5,455.8% during 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 during the period. Finally, Summit Trail Advisors LLC raised its stake in MCCORMICK & CO /SH by 10,866.4% during 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 during the period. 82.66% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on MKC shares. Zacks Investment Research downgraded shares of MCCORMICK & CO /SH from a “hold” rating to a “sell” rating in a research note on Tuesday, June 5th. Credit Suisse Group lifted their target price on shares of MCCORMICK & CO /SH from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, June 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $123.00 target price on shares of MCCORMICK & CO /SH in a research note on Thursday, June 28th. ValuEngine raised shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, Citigroup lifted their target price on shares of MCCORMICK & CO /SH from $114.00 to $117.00 and gave the stock a “neutral” rating in a research note on Friday, June 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. MCCORMICK & CO /SH currently has a consensus rating of “Hold” and an average price target of $114.25.

In other news, VP Michael R. Smith sold 8,000 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly 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 through this hyperlink. Also, Director Alan D. Wilson sold 100,000 shares of the business’s 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 sale, the director now directly owns 212,894 shares in the company, valued at $26,675,618.20. The disclosure for this sale can be found here. Insiders sold a total of 266,600 shares of company stock worth $30,935,200 over the last three months. Insiders own 19.20% of the company’s stock.

Shares of MCCORMICK & CO /SH stock traded down $0.30 on Friday, reaching $130.98. The company had a trading volume of 1,926 shares, compared to its average volume of 622,237. The company has a market capitalization of $17.22 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 2.94 and a beta of 0.55. MCCORMICK & CO /SH NV has a 52-week low of $93.70 and a 52-week high of $131.88. 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 (NYSE:MKC) last released its quarterly earnings results on Thursday, June 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. MCCORMICK & CO /SH had a net margin of 15.83% and a return on equity of 21.98%. The business’s revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. equities analysts expect that MCCORMICK & CO /SH NV will post 4.96 earnings per share for the current year.

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 through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

Further Reading: Market Capitalization and Individual Investors

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

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