New York State Common Retirement Fund Cuts Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

New York State Common Retirement Fund lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 206,438 shares of the company's stock after selling 32,022 shares during the period. New York State Common Retirement Fund owned about 0.08% of McCormick & Company, Incorporated worth $16,992,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Wayfinding Financial LLC purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $30,000. 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 acquiring an additional 336 shares during the period. Twin Tree Management LP purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Ameriflex Group Inc. purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Finally, Stonebridge Financial Group LLC grew its stake in shares of McCormick & Company, Incorporated by 101.0% in the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after buying an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.80% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Citigroup cut their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 17th. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, UBS Group assumed coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $84.13.

McCormick & Company, Incorporated Price Performance

NYSE MKC traded down $0.29 during trading hours on Friday, reaching $71.43. The company's stock had a trading volume of 1,422,943 shares, compared to its average volume of 2,060,233. The firm has a market capitalization of $19.17 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 3.43 and a beta of 0.68. McCormick & Company, Incorporated has a 1-year low of $69.98 and a 1-year high of $86.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The company's 50-day moving average is $73.69 and its two-hundred day moving average is $76.14.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the previous year, the firm posted $0.69 EPS. McCormick & Company, Incorporated's revenue was up 1.0% compared to the same quarter last year. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated's payout ratio is presently 62.50%.

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.