M&T Bank Corp Has $10.94 Million Position in MCCORMICK & CO /SH NV (NYSE:MKC)

M&T Bank Corp decreased its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,958 shares of the company’s stock after selling 362 shares during the quarter. M&T Bank Corp’s holdings in MCCORMICK & CO /SH were worth $10,937,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in MCCORMICK & CO /SH by 0.3% during the 1st quarter. State Street Corp now owns 6,817,497 shares of the company’s stock valued at $962,699,000 after purchasing an additional 18,164 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of MCCORMICK & CO /SH by 0.5% in the first quarter. Geode Capital Management LLC now owns 2,008,227 shares of the company’s stock valued at $283,349,000 after acquiring an additional 10,531 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of MCCORMICK & CO /SH by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 956,755 shares of the company’s stock worth $135,105,000 after acquiring an additional 11,310 shares in the last quarter. Capital Research Global Investors grew its position in MCCORMICK & CO /SH by 140.6% during the 1st quarter. Capital Research Global Investors now owns 906,236 shares of the company’s stock worth $127,970,000 after acquiring an additional 529,510 shares during the last quarter. Finally, Swiss National Bank grew its position in MCCORMICK & CO /SH by 18.8% during the 1st quarter. Swiss National Bank now owns 883,543 shares of the company’s stock worth $124,765,000 after acquiring an additional 139,900 shares during the last quarter. 75.87% of the stock is owned by institutional investors.

MKC opened at $194.90 on Friday. The firm has a 50 day simple moving average of $182.18 and a 200 day simple moving average of $164.15. MCCORMICK & CO /SH NV has a fifty-two week low of $112.22 and a fifty-two week high of $196.77. The company has a market cap of $25.97 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 5.86 and a beta of 0.37. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.02 and a quick ratio of 0.50.

MCCORMICK & CO /SH (NYSE:MKC) last released its earnings results on Thursday, June 25th. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.31. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.37 billion. MCCORMICK & CO /SH had a net margin of 13.74% and a return on equity of 21.34%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. As a group, analysts expect that MCCORMICK & CO /SH NV will post 5.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.48 dividend on an annualized basis and a yield of 1.27%. MCCORMICK & CO /SH’s dividend payout ratio is presently 46.36%.

In other MCCORMICK & CO /SH news, Director Margaret M. V. Preston sold 8,408 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $181.80, for a total value of $1,528,574.40. Following the completion of the sale, the director now owns 33,135 shares of the company’s stock, valued at $6,023,943. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Malcolm Swift sold 24,600 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $181.65, for a total transaction of $4,468,590.00. Following the completion of the sale, the insider now owns 55,464 shares in the company, valued at $10,075,035.60. The disclosure for this sale can be found here. Insiders sold 52,408 shares of company stock valued at $9,490,479 in the last quarter. 11.00% of the stock is currently owned by corporate insiders.

Several analysts have recently commented on the company. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a report on Wednesday, May 6th. UBS Group upgraded shares of MCCORMICK & CO /SH to a “buy” rating and set a $160.00 price objective for the company in a research report on Friday, May 15th. Credit Suisse Group boosted their target price on shares of MCCORMICK & CO /SH from $187.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. decreased their price target on shares of MCCORMICK & CO /SH from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Friday, April 17th. Finally, Deutsche Bank boosted their price objective on shares of MCCORMICK & CO /SH from $156.00 to $182.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $156.20.

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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