Amundi Pioneer Asset Management Inc. Sells 32,903 Shares of MCCORMICK & CO /SH NV (MKC)

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Amundi Pioneer Asset Management Inc. reduced its position in MCCORMICK & CO /SH NV (NYSE:MKC) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 334,465 shares of the company’s stock after selling 32,903 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in MCCORMICK & CO /SH were worth $46,570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Highstreet Asset Management Inc. lifted its holdings in shares of MCCORMICK & CO /SH by 1.9% in the 4th quarter. Highstreet Asset Management Inc. now owns 4,282 shares of the company’s stock worth $596,000 after purchasing an additional 80 shares in the last quarter. Stone Ridge Asset Management LLC lifted its holdings in shares of MCCORMICK & CO /SH by 1.0% in the 4th quarter. Stone Ridge Asset Management LLC now owns 10,371 shares of the company’s stock worth $1,444,000 after purchasing an additional 100 shares in the last quarter. Comerica Securities Inc. lifted its holdings in shares of MCCORMICK & CO /SH by 1.8% in the 4th quarter. Comerica Securities Inc. now owns 6,204 shares of the company’s stock worth $867,000 after purchasing an additional 108 shares in the last quarter. FTB Advisors Inc. lifted its holdings in shares of MCCORMICK & CO /SH by 26.2% in the 4th quarter. FTB Advisors Inc. now owns 521 shares of the company’s stock worth $73,000 after purchasing an additional 108 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in MCCORMICK & CO /SH by 36.2% during the 4th quarter. Van ECK Associates Corp now owns 467 shares of the company’s stock valued at $65,000 after acquiring an additional 124 shares in the last quarter. Institutional investors own 81.33% of the company’s stock.

In other news, major shareholder Alan D. Wilson sold 90,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $140.00, for a total transaction of $12,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.00% of the stock is currently owned by company insiders.

Several equities analysts have weighed in on MKC shares. Jefferies Financial Group restated a “buy” rating and set a $150.00 price objective on shares of MCCORMICK & CO /SH in a research note on Monday, January 28th. Deutsche Bank upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Zacks Investment Research cut MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. Credit Suisse Group set a $108.00 price objective on MCCORMICK & CO /SH and gave the company a “buy” rating in a research note on Thursday, December 20th. Finally, Consumer Edge upgraded MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 25th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $130.63.

Shares of NYSE:MKC opened at $142.37 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.35 and a debt-to-equity ratio of 1.27. MCCORMICK & CO /SH NV has a 1-year low of $99.53 and a 1-year high of $156.00. The firm has a market cap of $18.81 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 2.95 and a beta of 0.24.

MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings data on Thursday, January 24th. The company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.03). MCCORMICK & CO /SH had a net margin of 17.26% and a return on equity of 21.34%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business posted $1.54 earnings per share. MCCORMICK & CO /SH’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts forecast that MCCORMICK & CO /SH NV will post 5.25 earnings per share for the current year.

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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.

Further Reading: Return on Investment (ROI) Defined, Explained

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Institutional Ownership by Quarter for MCCORMICK & CO /SH (NYSE:MKC)

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