McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,298 shares of the company’s stock after selling 654 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in McCormick & Company, Incorporated were worth $637,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth $160,999,000. Massachusetts Financial Services Co. MA increased its position in shares of McCormick & Company, Incorporated by 41.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock worth $366,667,000 after acquiring an additional 1,577,636 shares in the last quarter. Nuance Investments LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at about $73,160,000. Vanguard Group Inc. increased its stake in McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after buying an additional 883,327 shares during the period. Finally, Impax Asset Management Group plc grew its position in shares of McCormick & Company, Incorporated by 157.2% during the fourth quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock worth $72,749,000 after buying an additional 649,908 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 1.4 %

Shares of McCormick & Company, Incorporated stock traded up $1.02 on Friday, hitting $75.79. The stock had a trading volume of 2,667,739 shares, compared to its average volume of 1,952,640. The firm has a market capitalization of $20.36 billion, a P/E ratio of 27.66, a PEG ratio of 3.91 and a beta of 0.75. The stock has a 50 day moving average of $70.95 and a 200 day moving average of $70.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $90.45.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the company posted $0.60 earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, April 2nd. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. Finally, TD Cowen cut their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $76.25.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at approximately $14,944,350. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katherine Jenkins sold 2,732 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total transaction of $207,386.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,732 shares of company stock valued at $7,982,386. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.