Toronto Dominion Bank Buys 59,263 Shares of MCCORMICK & CO /SH NV (NYSE:MKC)

Toronto Dominion Bank grew its stake in MCCORMICK & CO /SH NV (NYSE:MKC) by 68.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,279 shares of the company’s stock after acquiring an additional 59,263 shares during the period. Toronto Dominion Bank owned 0.11% of MCCORMICK & CO /SH worth $22,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MKC. BlackRock Inc. grew its position in shares of MCCORMICK & CO /SH by 2.6% during the 1st quarter. BlackRock Inc. now owns 10,738,844 shares of the company’s stock worth $1,617,593,000 after buying an additional 275,507 shares during the period. Fundsmith LLP grew its position in shares of MCCORMICK & CO /SH by 93.6% during the 1st quarter. Fundsmith LLP now owns 5,204,584 shares of the company’s stock worth $783,966,000 after buying an additional 2,515,590 shares during the period. Clearbridge Investments LLC grew its position in shares of MCCORMICK & CO /SH by 4.9% during the 1st quarter. Clearbridge Investments LLC now owns 2,039,349 shares of the company’s stock worth $307,187,000 after buying an additional 94,527 shares during the period. Geode Capital Management LLC grew its position in shares of MCCORMICK & CO /SH by 15.9% during the 4th quarter. Geode Capital Management LLC now owns 1,800,426 shares of the company’s stock worth $250,306,000 after buying an additional 247,249 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of MCCORMICK & CO /SH by 7.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,454,501 shares of the company’s stock worth $225,454,000 after buying an additional 102,387 shares during the period. 80.19% of the stock is owned by institutional investors.

Shares of MCCORMICK & CO /SH stock traded down $0.90 on Friday, hitting $156.91. The company had a trading volume of 147,855 shares, compared to its average volume of 831,052. The firm has a market capitalization of $20.67 billion, a P/E ratio of 31.57, a P/E/G ratio of 3.69 and a beta of 0.16. MCCORMICK & CO /SH NV has a twelve month low of $119.00 and a twelve month high of $171.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.79 and a quick ratio of 0.35. The stock has a 50-day moving average of $162.54 and a 200-day moving average of $154.32.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings results on Thursday, June 27th. The company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.07. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. MCCORMICK & CO /SH had a net margin of 12.73% and a return on equity of 21.42%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 earnings per share. Equities analysts predict that MCCORMICK & CO /SH NV will post 5.28 EPS for the current year.

MKC has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $154.00 to $150.00 in a research report on Tuesday, August 20th. Citigroup boosted their price objective on shares of MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Deutsche Bank set a $142.00 price objective on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. UBS Group set a $155.00 price objective on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a report on Friday, June 28th. Finally, Zacks Investment Research upgraded shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price objective for the company in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $142.89.

In other news, 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 value of $318,821.40. Following the sale, the vice president now owns 6,209 shares of the company’s stock, valued at $956,310.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Margaret M. V. Preston sold 2,402 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $161.23, for a total transaction of $387,274.46. Following the completion of the sale, the director now directly owns 28,370 shares in the company, valued at approximately $4,574,095.10. The disclosure for this sale can be found here. In the last three months, insiders sold 43,272 shares of company stock worth $7,197,181. 11.00% of the stock is currently owned by 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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