McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 23.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MKC. Savvy Advisors Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $466,000. Somerville Kurt F boosted its position in McCormick & Company, Incorporated by 34.2% in the 4th quarter. Somerville Kurt F now owns 96,074 shares of the company’s stock valued at $7,325,000 after buying an additional 24,467 shares during the period. DJE Kapital AG acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $4,228,000. SBI Securities Co. Ltd. purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $234,000. Finally, Asset Management One Co. Ltd. raised its stake in shares of McCormick & Company, Incorporated by 16.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock valued at $10,547,000 after acquiring an additional 19,491 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 0.6 %

Shares of NYSE:MKC opened at $74.56 on Friday. The firm has a 50 day simple moving average of $79.18 and a 200-day simple moving average of $77.91. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $20.00 billion, a PE ratio of 25.45, a P/E/G ratio of 3.76 and a beta of 0.75.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.41%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.86%.

Insiders Place Their Bets

In related news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares in the company, valued at $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory Repas sold 2,750 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,842 shares of company stock valued at $6,478,332 over the last quarter. Company insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays cut their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $83.14.

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.