State of Alaska Department of Revenue Sells 500 Shares of McCormick & Company, Incorporated (NYSE:MKC)

State of Alaska Department of Revenue decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,752 shares of the company’s stock after selling 500 shares during the quarter. State of Alaska Department of Revenue’s holdings in McCormick & Company, Incorporated were worth $2,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth about $28,000. Albion Financial Group UT bought a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth approximately $38,000. Kennebec Savings Bank bought a new position in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $40,000. Finally, Friedenthal Financial purchased a new position in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $49,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC opened at $76.65 on Tuesday. The firm has a 50-day moving average price of $76.70 and a 200-day moving average price of $78.38. McCormick & Company, Incorporated has a twelve month low of $64.33 and a twelve month high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $20.55 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 3.67 and a beta of 0.75.

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

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a dividend of $0.45 per share. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.35%. McCormick & Company, Incorporated’s dividend payout ratio is 61.43%.

Wall Street Analysts Forecast Growth

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

McCormick & Company, Incorporated Company Profile

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.