Maryland State Retirement & Pension System Sells 435 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Maryland State Retirement & Pension System lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,942 shares of the company’s stock after selling 435 shares during the quarter. Maryland State Retirement & Pension System’s holdings in McCormick & Company, Incorporated were worth $1,063,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $30,000. Albion Financial Group UT acquired a new stake in McCormick & Company, Incorporated in the 4th quarter worth $33,000. Twin Tree Management LP bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $33,000. Rosenberg Matthew Hamilton acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $38,000. Finally, Kentucky Trust Co bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $56,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 23.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays lowered their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

McCormick & Company, Incorporated Stock Down 0.9 %

Shares of NYSE MKC opened at $80.01 on Monday. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The business has a fifty day moving average of $78.40 and a two-hundred day moving average of $78.88. The stock has a market cap of $21.46 billion, a PE ratio of 27.31, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Company 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.