State of Michigan Retirement System Sells 200 Shares of McCormick & Company, Incorporated (NYSE:MKC)

State of Michigan Retirement System decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 68,410 shares of the company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in McCormick & Company, Incorporated were worth $5,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MKC. Steward Partners Investment Advisory LLC raised its position in shares of McCormick & Company, Incorporated by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 23,244 shares of the company’s stock valued at $1,772,000 after purchasing an additional 494 shares during the period. DJE Kapital AG bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $4,228,000. SBI Securities Co. Ltd. acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $234,000. Norden Group LLC lifted its position in McCormick & Company, Incorporated by 5.2% during the fourth quarter. Norden Group LLC now owns 10,536 shares of the company’s stock worth $803,000 after acquiring an additional 521 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $74,000. 79.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

MKC has been the subject of a number of recent research reports. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective 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 raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded 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 research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.75.

Insiders Place Their Bets

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

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $81.81 on Friday. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $85.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market cap of $21.94 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 3.76 and a beta of 0.75. The firm has a 50 day simple moving average of $76.96 and a 200 day simple moving average of $78.73.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) 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%. Research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

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.