Retirement Systems of Alabama Sells 378 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Retirement Systems of Alabama cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 0.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 54,602 shares of the company’s stock after selling 378 shares during the period. Retirement Systems of Alabama’s holdings in McCormick & Company, Incorporated were worth $4,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $20,227,000. Hemenway Trust Co LLC boosted its holdings in McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after purchasing an additional 58,511 shares during the period. Wellington Management Group LLP boosted its holdings in McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock valued at $11,500,000 after purchasing an additional 24,881 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after purchasing an additional 14,652 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $1,104,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Trading Down 2.2 %

Shares of McCormick & Company, Incorporated stock opened at $76.65 on Tuesday. The stock has a market capitalization of $20.55 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. 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 50-day simple moving average of $76.70 and a 200 day simple moving average of $78.38. McCormick & Company, Incorporated has a 12-month low of $64.33 and a 12-month high of $85.49.

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

McCormick & Company, Incorporated Increases Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on the stock. 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. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Moderate Buy” and an average target price 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.