Envestnet Asset Management Inc. Reduces Holdings in MCCORMICK & CO /SH NV (MKC)

Envestnet Asset Management Inc. cut its holdings in MCCORMICK & CO /SH NV (NYSE:MKC) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,017 shares of the company’s stock after selling 436 shares during the quarter. Envestnet Asset Management Inc.’s holdings in MCCORMICK & CO /SH were worth $2,323,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its position in MCCORMICK & CO /SH by 1.3% in the first quarter. BlackRock Inc. now owns 9,966,369 shares of the company’s stock worth $1,060,322,000 after acquiring an additional 130,107 shares in the last quarter. Bank of New York Mellon Corp raised its position in MCCORMICK & CO /SH by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 1,087,752 shares of the company’s stock worth $126,277,000 after acquiring an additional 18,392 shares in the last quarter. FMR LLC raised its position in MCCORMICK & CO /SH by 89.1% in the second quarter. FMR LLC now owns 916,815 shares of the company’s stock worth $106,433,000 after acquiring an additional 431,896 shares in the last quarter. Champlain Investment Partners LLC raised its position in MCCORMICK & CO /SH by 15.0% in the first quarter. Champlain Investment Partners LLC now owns 813,130 shares of the company’s stock worth $86,509,000 after acquiring an additional 106,335 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in MCCORMICK & CO /SH by 4.0% in the first quarter. ProShare Advisors LLC now owns 720,561 shares of the company’s stock worth $76,660,000 after acquiring an additional 27,576 shares in the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.

NYSE MKC opened at $132.29 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.42 and a current ratio of 0.85. The stock has a market cap of $17.22 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 2.94 and a beta of 0.55. MCCORMICK & CO /SH NV has a 1 year low of $93.70 and a 1 year high of $132.35.

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

Several brokerages have commented on MKC. Zacks Investment Research cut shares of MCCORMICK & CO /SH from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine upgraded shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Vertical Group cut shares of 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. Citigroup boosted their price target on shares of 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, Jefferies Financial Group reiterated a “buy” rating and issued a $123.00 price target on shares of MCCORMICK & CO /SH in a research report on Thursday, June 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $114.25.

In other MCCORMICK & CO /SH news, Director Alan D. Wilson sold 158,600 shares of the business’s stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $110.00, for a total transaction of $17,446,000.00. Following the sale, the director now owns 212,894 shares in the company, valued at approximately $23,418,340. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael R. Smith sold 8,000 shares of the business’s stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $119.90, for a total value of $959,200.00. Following the sale, the vice president now owns 22,759 shares in the company, valued at approximately $2,728,804.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 266,600 shares of company stock worth $30,935,200. Corporate insiders own 19.20% of the company’s stock.

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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