Sandy Spring Bank Sells 395 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)

Sandy Spring Bank lowered its position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,906 shares of the company’s stock after selling 395 shares during the quarter. Sandy Spring Bank’s holdings in MCCORMICK & CO /SH were worth $2,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Private Ocean LLC purchased a new stake in shares of MCCORMICK & CO /SH during the 1st quarter worth approximately $27,000. Winslow Evans & Crocker Inc. purchased a new stake in shares of MCCORMICK & CO /SH during the 1st quarter worth approximately $36,000. Glassman Wealth Services increased 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 purchasing an additional 73 shares during the last quarter. Ascent Wealth Partners LLC purchased a new stake in shares of MCCORMICK & CO /SH during the 1st quarter worth approximately $41,000. Finally, Farmers National Bank purchased a new stake in shares of MCCORMICK & CO /SH during the 1st quarter worth approximately $45,000. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the stock. Deutsche Bank set a $142.00 price target on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. raised their price target on shares of MCCORMICK & CO /SH from $143.00 to $148.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. UBS Group set a $155.00 price target on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, June 28th. Zacks Investment Research upgraded shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price target for the company in a research note on Thursday, May 30th. Finally, Citigroup raised their price target on shares of MCCORMICK & CO /SH from $155.00 to $166.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. MCCORMICK & CO /SH currently has a consensus rating of “Hold” and an average target price of $142.67.

MCCORMICK & CO /SH stock traded up $0.87 during mid-day trading on Thursday, reaching $167.52. The company’s stock had a trading volume of 5,280 shares, compared to its average volume of 733,403. MCCORMICK & CO /SH NV has a 12-month low of $119.00 and a 12-month high of $169.74. The firm has a market cap of $21.87 billion, a P/E ratio of 33.84, a P/E/G ratio of 3.89 and a beta of 0.18. The company has a quick ratio of 0.35, a current ratio of 0.79 and a debt-to-equity ratio of 1.18. The stock has a fifty day moving average of $159.59.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings data on Thursday, June 27th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. MCCORMICK & CO /SH had a net margin of 12.73% and a return on equity of 21.42%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business earned $1.02 EPS. MCCORMICK & CO /SH’s revenue was up .0% compared to the same quarter last year. Equities analysts expect that MCCORMICK & CO /SH NV will post 5.31 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a $0.57 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.28 dividend on an annualized basis and a yield of 1.36%. MCCORMICK & CO /SH’s dividend payout ratio is 45.88%.

In other news, VP Michael R. Smith sold 9,100 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $160.84, for a total transaction of $1,463,644.00. Following the completion of the transaction, the vice president now directly owns 30,453 shares in the company, valued at approximately $4,898,060.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Nneka Louise Rimmer sold 2,070 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $154.02, for a total transaction of $318,821.40. Following the transaction, the vice president now owns 6,209 shares of the company’s stock, valued at $956,310.18. The disclosure for this sale can be found here. Insiders sold a total of 15,035 shares of company stock valued at $2,378,874 over the last quarter. 11.00% of the stock is owned by company insiders.

MCCORMICK & CO /SH 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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