McCormick & Company, Incorporated (NYSE:MKC) Stake Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 9,283.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 367,253 shares of the company’s stock after buying an additional 363,339 shares during the period. Teacher Retirement System of Texas’ holdings in McCormick & Company, Incorporated were worth $27,999,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MKC. Natixis Advisors LLC boosted its holdings in McCormick & Company, Incorporated by 12.1% in the third quarter. Natixis Advisors LLC now owns 79,890 shares of the company’s stock worth $6,575,000 after purchasing an additional 8,636 shares during the period. Thrivent Financial for Lutherans boosted its holdings in McCormick & Company, Incorporated by 526.9% in the third quarter. Thrivent Financial for Lutherans now owns 83,714 shares of the company’s stock worth $6,890,000 after purchasing an additional 70,361 shares during the period. Pathstone Holdings LLC boosted its holdings in McCormick & Company, Incorporated by 5.8% in the third quarter. Pathstone Holdings LLC now owns 57,484 shares of the company’s stock worth $4,731,000 after purchasing an additional 3,163 shares during the period. Caprock Group LLC boosted its holdings in McCormick & Company, Incorporated by 3.2% in the third quarter. Caprock Group LLC now owns 12,402 shares of the company’s stock worth $1,021,000 after purchasing an additional 381 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in McCormick & Company, Incorporated in the third quarter worth $3,156,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $80.66 on Friday. The company has a market capitalization of $21.63 billion, a P/E ratio of 27.53, a PEG ratio of 3.76 and a beta of 0.71. The company has a 50-day simple moving average of $78.23 and a 200 day simple moving average of $78.92. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping 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%. Sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 23.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MKC shares. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target 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. Barclays reduced their price target on shares of 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. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated 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.