Wagner Bowman Management Corp Sells 991 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)

Wagner Bowman Management Corp lessened its position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,828 shares of the company’s stock after selling 991 shares during the period. Wagner Bowman Management Corp’s holdings in MCCORMICK & CO /SH were worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MKC. Comerica Securities Inc. increased its stake in MCCORMICK & CO /SH by 1.8% in the fourth quarter. Comerica Securities Inc. now owns 6,204 shares of the company’s stock valued at $867,000 after acquiring an additional 108 shares during the last quarter. Geode Capital Management LLC increased its stake in MCCORMICK & CO /SH by 15.9% in the fourth quarter. Geode Capital Management LLC now owns 1,800,426 shares of the company’s stock valued at $250,306,000 after purchasing an additional 247,249 shares in the last quarter. Two Sigma Advisers LP bought a new stake in MCCORMICK & CO /SH in the fourth quarter valued at $641,000. Mercer Global Advisors Inc. ADV bought a new stake in MCCORMICK & CO /SH in the first quarter valued at $262,000. Finally, Louisiana State Employees Retirement System increased its stake in MCCORMICK & CO /SH by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 6,500 shares of the company’s stock valued at $979,000 after purchasing an additional 100 shares in the last quarter. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of MKC stock traded down $0.19 during trading on Friday, reaching $168.81. 478,919 shares of the company’s stock traded hands, compared to its average volume of 770,216. The company has a market capitalization of $22.15 billion, a P/E ratio of 33.97, a PEG ratio of 3.94 and a beta of 0.18. The company has a current ratio of 0.79, a quick ratio of 0.35 and a debt-to-equity ratio of 1.18. The firm’s 50-day moving average is $159.94 and its 200 day moving average is $149.87. MCCORMICK & CO /SH NV has a 1 year low of $119.00 and a 1 year high of $170.09.



MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 27th. The company reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the company posted $1.02 EPS. MCCORMICK & CO /SH’s revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that MCCORMICK & CO /SH NV will post 5.3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were paid a dividend of $0.57 per share. The ex-dividend date was Friday, July 5th. This represents a $2.28 dividend on an annualized basis and a yield of 1.35%. MCCORMICK & CO /SH’s dividend payout ratio is currently 45.88%.

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

In related news, VP Michael R. Smith sold 9,100 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $160.84, for a total value of $1,463,644.00. Following the transaction, the vice president now owns 30,453 shares of the company’s stock, valued at $4,898,060.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Nneka Louise Rimmer sold 2,070 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $154.02, for a total transaction 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. Over the last 90 days, insiders have sold 17,535 shares of company stock valued at $2,801,899. 11.00% of the stock is owned by company insiders.

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 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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