McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 410,913 shares of the company’s stock after acquiring an additional 4,397 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of McCormick & Company, Incorporated worth $31,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in MKC. Global Retirement Partners LLC grew its stake in McCormick & Company, Incorporated by 26.4% during the 4th quarter. Global Retirement Partners LLC now owns 1,382 shares of the company’s stock worth $90,000 after buying an additional 289 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of McCormick & Company, Incorporated by 4.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 7,805 shares of the company’s stock valued at $534,000 after buying an additional 362 shares during the period. Prio Wealth Limited Partnership lifted its holdings in shares of McCormick & Company, Incorporated by 17.1% during the fourth quarter. Prio Wealth Limited Partnership now owns 7,018 shares of the company’s stock valued at $480,000 after purchasing an additional 1,024 shares during the last quarter. TIAA Trust National Association lifted its holdings in shares of McCormick & Company, Incorporated by 3.4% during the fourth quarter. TIAA Trust National Association now owns 10,585 shares of the company’s stock valued at $724,000 after purchasing an additional 348 shares during the last quarter. Finally, Fenimore Asset Management Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 369.2% during the fourth quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock valued at $47,554,000 after purchasing an additional 546,911 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Up 0.2 %

MKC stock traded up $0.14 during mid-day trading on Wednesday, hitting $77.01. The stock had a trading volume of 2,279,518 shares, compared to its average volume of 1,999,264. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $89.99. The company has a fifty day moving average of $71.11 and a 200 day moving average of $70.97. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 3.92 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. On average, equities analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is 61.31%.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the transaction, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,695,277.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Katherine Jenkins sold 2,732 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total transaction of $207,386.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total value of $5,900,000.00. Following the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,695,277.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,732 shares of company stock valued at $7,982,386. Insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MKC shares. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, April 2nd. TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price target for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $76.25.

About McCormick & Company, Incorporated

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.