Metropolitan Life Insurance Co. NY lessened its stake in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 23.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 18,555 shares of the company’s stock after selling 5,722 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in MCCORMICK & CO /SH were worth $2,154,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of MCCORMICK & CO /SH during the 2nd quarter worth approximately $111,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of MCCORMICK & CO /SH during the 2nd quarter worth approximately $125,000. Signaturefd LLC bought a new position in shares of MCCORMICK & CO /SH during the 1st quarter worth approximately $116,000. IMS Capital Management bought a new position in shares of MCCORMICK & CO /SH during the 2nd quarter worth approximately $128,000. Finally, Fort L.P. bought a new position in shares of MCCORMICK & CO /SH during the 2nd quarter worth approximately $134,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research report on Tuesday. Credit Suisse Group raised their target price on MCCORMICK & CO /SH from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, June 29th. ValuEngine upgraded MCCORMICK & CO /SH from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Citigroup raised their target price on MCCORMICK & CO /SH from $114.00 to $117.00 and gave the stock a “neutral” rating in a research report on Friday, June 29th. Finally, Vertical Group downgraded MCCORMICK & CO /SH 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. MCCORMICK & CO /SH has an average rating of “Hold” and a consensus price target of $114.25.

In other news, Director Alan D. Wilson sold 158,600 shares of MCCORMICK & CO /SH stock in a transaction on Thursday, June 28th. The stock was sold at an average price of $110.00, for a total value of $17,446,000.00. Following the completion of the sale, the director now directly owns 212,894 shares of the company’s stock, valued at approximately $23,418,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael R. Smith sold 8,000 shares of MCCORMICK & CO /SH 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 sale, the vice president now directly owns 22,759 shares of the company’s stock, valued at $2,728,804.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 266,600 shares of company stock valued at $30,935,200. Corporate insiders own 19.20% of the company’s stock.

Shares of MKC opened at $131.24 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.85 and a debt-to-equity ratio of 1.47. MCCORMICK & CO /SH NV has a 52-week low of $93.70 and a 52-week high of $132.83. The firm has a market capitalization of $17.37 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 2.96 and a beta of 0.55.

MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.09. MCCORMICK & CO /SH had a return on equity of 21.98% and a net margin of 15.83%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted $0.82 EPS. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. equities research analysts forecast that MCCORMICK & CO /SH NV will post 4.96 earnings per share for the current year.

About MCCORMICK & CO /SH

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 (NYSE:MKC)

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