Teacher Retirement System of Texas Reduces Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Teacher Retirement System of Texas cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 71.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,144 shares of the company's stock after selling 263,109 shares during the period. Teacher Retirement System of Texas' holdings in McCormick & Company, Incorporated were worth $8,572,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MKC. Salem Investment Counselors Inc. grew its holdings in shares of McCormick & Company, Incorporated by 610.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after purchasing an additional 336 shares in the last quarter. Curio Wealth LLC bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at about $30,000. Stonebridge Financial Group LLC increased its holdings in shares of McCormick & Company, Incorporated by 101.0% in the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after acquiring an additional 202 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Finally, Twin Tree Management LP acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth about $33,000. 79.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on MKC. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Citigroup reduced their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, June 17th. Finally, UBS Group assumed coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $84.13.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded down $0.51 during trading hours on Tuesday, reaching $72.88. 3,257,188 shares of the stock were exchanged, compared to its average volume of 2,067,455. The firm has a market capitalization of $19.56 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 3.53 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. McCormick & Company, Incorporated has a 52 week low of $69.00 and a 52 week high of $86.24. The stock's fifty day simple moving average is $74.38 and its 200 day simple moving average is $76.47.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the company earned $0.69 EPS. The company's revenue was up 1.0% on a year-over-year basis. Sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated's payout ratio is presently 62.50%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 23.80% of the company's stock.

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.