MUFG Americas Holdings Corp Decreases Stock Holdings in MCCORMICK & CO /SH NV (NYSE:MKC)

MUFG Americas Holdings Corp trimmed its position in shares of MCCORMICK & CO /SH NV (NYSE:MKC) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,047 shares of the company’s stock after selling 844 shares during the quarter. MUFG Americas Holdings Corp’s holdings in MCCORMICK & CO /SH were worth $2,352,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Smith Shellnut Wilson LLC ADV lifted its position in shares of MCCORMICK & CO /SH by 3.5% during the third quarter. Smith Shellnut Wilson LLC ADV now owns 2,497 shares of the company’s stock valued at $390,000 after buying an additional 85 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of MCCORMICK & CO /SH during the third quarter valued at about $1,429,000. Banco Santander S.A. purchased a new stake in shares of MCCORMICK & CO /SH during the third quarter valued at about $1,036,000. Focused Wealth Management Inc lifted its position in shares of MCCORMICK & CO /SH by 10.1% during the third quarter. Focused Wealth Management Inc now owns 1,089 shares of the company’s stock valued at $170,000 after buying an additional 100 shares during the last quarter. Finally, Eqis Capital Management Inc. lifted its position in shares of MCCORMICK & CO /SH by 7.2% during the third quarter. Eqis Capital Management Inc. now owns 3,324 shares of the company’s stock valued at $520,000 after buying an additional 224 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

In related news, Director Margaret M. V. Preston sold 2,402 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $161.23, for a total value of $387,274.46. Following the completion of the transaction, the director now directly owns 28,370 shares of the company’s stock, valued at approximately $4,574,095.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lisa Manzone sold 2,800 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $167.05, for a total transaction of $467,740.00. Following the completion of the transaction, the vice president now directly owns 11,260 shares of the company’s stock, valued at $1,880,983. The disclosure for this sale can be found here. Insiders sold a total of 10,202 shares of company stock valued at $1,697,964 over the last ninety days. 11.00% of the stock is currently owned by insiders.

Shares of MCCORMICK & CO /SH stock traded down $0.73 during midday trading on Friday, hitting $162.38. The company had a trading volume of 560,201 shares, compared to its average volume of 568,811. The stock has a market cap of $21.75 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 3.80 and a beta of 0.13. The company has a quick ratio of 0.37, a current ratio of 0.78 and a debt-to-equity ratio of 1.10. The company has a fifty day simple moving average of $162.05 and a 200 day simple moving average of $159.42. MCCORMICK & CO /SH NV has a 12-month low of $119.00 and a 12-month high of $171.10.

MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $1.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.17. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.34 billion. MCCORMICK & CO /SH had a net margin of 13.12% and a return on equity of 21.63%. MCCORMICK & CO /SH’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $1.28 EPS. As a group, analysts expect that MCCORMICK & CO /SH NV will post 5.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Friday, October 4th. MCCORMICK & CO /SH’s payout ratio is currently 45.88%.

Several research firms have commented on MKC. JPMorgan Chase & Co. lowered shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $154.00 to $150.00 in a research report on Tuesday, August 20th. Credit Suisse Group increased their price objective on shares of MCCORMICK & CO /SH from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, ValuEngine lowered shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. MCCORMICK & CO /SH currently has an average rating of “Hold” and an average price target of $154.86.

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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