Kentucky Retirement Systems Has $1.45 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Kentucky Retirement Systems lowered its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.5% during the third quarter, HoldingsChannel reports. The firm owned 17,557 shares of the company’s stock after selling 1,414 shares during the quarter. Kentucky Retirement Systems’ holdings in McCormick & Company, Incorporated were worth $1,445,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Janney Montgomery Scott LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $20,227,000. Hemenway Trust Co LLC raised its holdings in shares of McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after acquiring an additional 58,511 shares during the period. Cetera Investment Advisers lifted its position in McCormick & Company, Incorporated by 470.6% in the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after acquiring an additional 31,306 shares in the last quarter. Boston Trust Walden Corp boosted its stake in McCormick & Company, Incorporated by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after purchasing an additional 6,588 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its holdings in McCormick & Company, Incorporated by 16.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 284,729 shares of the company’s stock worth $21,870,000 after purchasing an additional 41,042 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total value of $395,000.00. Following the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at $3,194,444. This represents a 11.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $74.62 on Tuesday. The company has a fifty day moving average price of $80.13 and a two-hundred day moving average price of $76.22. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The stock has a market cap of $20.03 billion, a P/E ratio of 25.38, a P/E/G ratio of 3.38 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the business posted $0.65 EPS. McCormick & Company, Incorporated’s revenue was down .3% on a year-over-year basis. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is presently 57.14%.

Analyst Ratings Changes

A number of brokerages have recently commented on MKC. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Bank of America lifted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen increased their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated 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.