New York State Common Retirement Fund Sells 47,074 Shares of McCormick & Company, Incorporated (NYSE:MKC)

New York State Common Retirement Fund lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 15.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 254,517 shares of the company’s stock after selling 47,074 shares during the period. New York State Common Retirement Fund’s holdings in McCormick & Company, Incorporated were worth $20,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MKC. Point72 Asset Management L.P. raised its stake in shares of McCormick & Company, Incorporated by 97,525.5% during the second quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock valued at $69,256,000 after acquiring an additional 975,255 shares in the last quarter. Nuance Investments LLC bought a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $73,160,000. Vanguard Group Inc. raised its stake in shares of McCormick & Company, Incorporated by 2.9% during the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after acquiring an additional 883,327 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $51,286,000. Finally, Millennium Management LLC raised its stake in shares of McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after acquiring an additional 386,320 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $78.18 on Tuesday. The firm’s fifty day simple moving average is $81.09 and its two-hundred day simple moving average is $76.15. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 12-month low of $63.67 and a 12-month high of $85.49. The firm has a market capitalization of $20.98 billion, a P/E ratio of 26.59, a P/E/G ratio of 3.57 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Finally, TD Cowen lifted their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated 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.