New York State Common Retirement Fund Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

New York State Common Retirement Fund cut its position in McCormick & Company, Incorporated (NYSE:MKC) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 238,460 shares of the company’s stock after selling 16,057 shares during the period. New York State Common Retirement Fund owned approximately 0.09% of McCormick & Company, Incorporated worth $18,180,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. raised its position in McCormick & Company, Incorporated by 125.9% during the 3rd quarter. Blue Trust Inc. now owns 2,087 shares of the company’s stock worth $172,000 after buying an additional 1,163 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 5.7% in the third quarter. Sequoia Financial Advisors LLC now owns 5,426 shares of the company’s stock worth $447,000 after acquiring an additional 293 shares during the period. Eastern Bank purchased a new position in shares of McCormick & Company, Incorporated during the third quarter worth $70,000. Private Advisor Group LLC lifted its position in McCormick & Company, Incorporated by 2.8% during the third quarter. Private Advisor Group LLC now owns 58,926 shares of the company’s stock valued at $4,850,000 after purchasing an additional 1,603 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in McCormick & Company, Incorporated by 7,350.5% in the third quarter. International Assets Investment Management LLC now owns 91,865 shares of the company’s stock valued at $7,560,000 after purchasing an additional 90,632 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Up 1.2 %

Shares of NYSE:MKC opened at $80.15 on Friday. The business’s 50 day moving average price is $76.33 and its 200-day moving average price is $78.42. McCormick & Company, Incorporated has a 1 year low of $65.72 and a 1 year high of $85.49. The firm has a market capitalization of $21.49 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MKC shares. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays decreased their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.