McCormick & Company, Incorporated (NYSE:MKC) Stake Reduced by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 54,980 shares of the company’s stock after selling 552 shares during the period. Retirement Systems of Alabama’s holdings in McCormick & Company, Incorporated were worth $4,525,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Peapack Gladstone Financial Corp lifted its stake in McCormick & Company, Incorporated by 0.8% during the third quarter. Peapack Gladstone Financial Corp now owns 76,831 shares of the company’s stock valued at $6,324,000 after purchasing an additional 632 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of McCormick & Company, Incorporated by 10.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 93,400 shares of the company’s stock valued at $7,687,000 after buying an additional 8,671 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of McCormick & Company, Incorporated by 35.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 873 shares of the company’s stock valued at $72,000 after acquiring an additional 227 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of McCormick & Company, Incorporated by 8.4% during the 3rd quarter. Toronto Dominion Bank now owns 137,301 shares of the company’s stock worth $11,300,000 after acquiring an additional 10,605 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in shares of McCormick & Company, Incorporated by 6.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,264 shares of the company’s stock worth $761,000 after acquiring an additional 528 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $78.24 on Friday. The firm has a 50 day moving average of $78.35 and a two-hundred day moving average of $76.96. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49. The company has a market capitalization of $21.00 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 3.48 and a beta of 0.75. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

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

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.45 per share. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

Insider Activity

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 20,000 shares of company stock valued at $1,565,850. Insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MKC. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen raised their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Bank of America upped their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $81.00.

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.