New York State Teachers Retirement System trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 194,247 shares of the company's stock after selling 6,189 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of McCormick & Company, Incorporated worth $15,988,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of MKC. Salem Investment Counselors Inc. lifted its holdings in 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 buying an additional 336 shares in the last quarter. Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $30,000. Stonebridge Financial Group LLC raised its position in shares of McCormick & Company, Incorporated by 101.0% during 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 during the last quarter. Ameriflex Group Inc. acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $33,000. Finally, Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $33,000. 79.74% of the stock is owned by institutional investors.
McCormick & Company, Incorporated Price Performance
McCormick & Company, Incorporated stock traded down $1.29 during trading hours on Friday, reaching $75.28. 1,785,186 shares of the stock were exchanged, compared to its average volume of 2,056,662. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a twelve month low of $69.00 and a twelve month high of $86.24. The company has a market cap of $20.20 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 3.61 and a beta of 0.68. The stock has a 50 day moving average of $74.41 and a two-hundred day moving average of $76.52.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 earnings per share. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.
McCormick & Company, Incorporated Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, July 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.39%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.
Insider Buying and Selling
In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.80% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of research firms recently commented on MKC. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Citigroup decreased their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. UBS Group started coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price objective for the company. Finally, Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and a consensus price target of $84.13.
View Our Latest Analysis on McCormick & Company, Incorporated
McCormick & Company, Incorporated Company Profile
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Free Report)
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.
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