State of Tennessee Department of Treasury Sells 16,259 Shares of McCormick & Company, Incorporated (NYSE:MKC)

State of Tennessee Department of Treasury decreased its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 23.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,598 shares of the company's stock after selling 16,259 shares during the period. State of Tennessee Department of Treasury's holdings in McCormick & Company, Incorporated were worth $4,086,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. International Private Wealth Advisors LLC increased its position in McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company's stock valued at $276,000 after purchasing an additional 136 shares during the period. Hazlett Burt & Watson Inc. increased its holdings in McCormick & Company, Incorporated by 2.8% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock worth $382,000 after purchasing an additional 137 shares during the period. Empower Advisory Group LLC lifted its holdings in shares of McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock worth $641,000 after buying an additional 138 shares during the period. Bessemer Group Inc. raised its holdings in shares of McCormick & Company, Incorporated by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock valued at $3,278,000 after purchasing an additional 139 shares in the last quarter. Finally, Hunter Associates Investment Management LLC increased its position in shares of McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company's stock worth $954,000 after purchasing an additional 153 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the transaction, the director now owns 247,437 shares in the company, valued at approximately $20,242,820.97. This represents a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, the director now directly owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,842 shares of company stock worth $6,478,332. Insiders own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target 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. Barclays reduced their price objective 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. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of "Hold" and a consensus target price of $83.14.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded down $1.35 during midday trading on Thursday, reaching $75.31. The stock had a trading volume of 589,982 shares, compared to its average volume of 1,952,816. The firm has a fifty day simple moving average of $78.97 and a two-hundred day simple moving average of $77.83. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The stock has a market cap of $20.20 billion, a P/E ratio of 25.73, a P/E/G ratio of 3.76 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.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

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.