New York State Teachers Retirement System Decreases Position in McCormick & Company, Incorporated (NYSE:MKC)

New York State Teachers Retirement System lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,436 shares of the company’s stock after selling 7,396 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of McCormick & Company, Incorporated worth $15,281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MKC. Cornerstone Wealth Management LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $212,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in McCormick & Company, Incorporated by 12.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,161 shares of the company’s stock worth $2,976,000 after acquiring an additional 3,922 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in McCormick & Company, Incorporated by 3.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 79,653 shares of the company’s stock worth $6,556,000 after acquiring an additional 2,394 shares during the last quarter. Blue Trust Inc. raised its stake in McCormick & Company, Incorporated by 125.9% in the 3rd quarter. Blue Trust Inc. now owns 2,087 shares of the company’s stock worth $172,000 after acquiring an additional 1,163 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in McCormick & Company, Incorporated in the 3rd quarter worth $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $77.07 on Monday. The stock has a 50-day simple moving average of $76.61 and a two-hundred day simple moving average of $78.41. The firm has a market capitalization of $20.67 billion, a P/E ratio of 26.30, a PEG ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a fifty-two week low of $64.86 and a fifty-two week high of $85.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

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

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.34%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.43%.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, February 13th. The stock was 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MKC. Barclays reduced their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. TD Cowen upgraded 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 research note on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock 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 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.