Teachers Retirement System of The State of Kentucky Has $1.48 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Teachers Retirement System of The State of Kentucky decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,575 shares of the company’s stock after selling 978 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in McCormick & Company, Incorporated were worth $1,476,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of McCormick & Company, Incorporated by 64.6% in the 3rd quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock valued at $8,216,000 after purchasing an additional 42,625 shares during the period. Cullen Investment Group LTD. acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth approximately $5,728,000. International Assets Investment Management LLC increased its holdings in McCormick & Company, Incorporated by 7,344.4% in the fourth quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock worth $7,946,000 after buying an additional 114,572 shares during the last quarter. abrdn plc increased its holdings in McCormick & Company, Incorporated by 19.1% in the fourth quarter. abrdn plc now owns 443,332 shares of the company’s stock worth $30,333,000 after buying an additional 71,133 shares during the last quarter. Finally, Jacobs & Co. CA increased its holdings in McCormick & Company, Incorporated by 12.7% in the fourth quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock worth $9,780,000 after buying an additional 16,098 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Tuesday, April 2nd. Barclays upped their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Finally, Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $78.00.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,695,277.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the completion of the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at $14,695,277.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,458 shares of company stock valued at $8,286,114. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Up 0.2 %

MKC opened at $68.68 on Friday. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $94.39. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 3.58 and a beta of 0.74. The business has a 50 day moving average of $72.50 and a 200-day moving average of $70.10.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the business earned $0.59 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.84 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.45%. McCormick & Company, Incorporated’s dividend payout ratio is 64.12%.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.