McCormick & Company, Incorporated (MKC) Shares Sold by State Treasurer State of Michigan

State Treasurer State of Michigan reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.8% during the 4th quarter, HoldingsChannel reports. The fund owned 35,068 shares of the company’s stock after selling 1,000 shares during the period. State Treasurer State of Michigan’s holdings in McCormick & Company, Incorporated were worth $3,574,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Zions Bancorporation grew its holdings in shares of McCormick & Company, Incorporated by 5,071.4% during the 3rd quarter. Zions Bancorporation now owns 1,086 shares of the company’s stock valued at $111,000 after acquiring an additional 1,065 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in shares of McCormick & Company, Incorporated by 136.6% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 1,500 shares of the company’s stock valued at $154,000 after acquiring an additional 866 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $173,000. YorkBridge Wealth Partners LLC purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $174,000. Finally, Kornitzer Capital Management Inc. KS purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $200,000. Institutional investors and hedge funds own 76.27% of the company’s stock.

Several research firms have recently commented on MKC. UBS Group boosted their price target on shares of McCormick & Company, Incorporated from $100.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Stifel Nicolaus boosted their price target on shares of McCormick & Company, Incorporated from $103.00 to $110.00 and gave the company a “hold” rating in a report on Friday, January 26th. Jefferies Group reiterated a “buy” rating and issued a $120.00 price objective on shares of McCormick & Company, Incorporated in a report on Thursday, January 25th. Deutsche Bank cut shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $103.00 to $98.00 in a report on Friday, January 19th. Finally, Zacks Investment Research upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Friday, December 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus target price of $107.56.

Shares of McCormick & Company, Incorporated (MKC) opened at $101.36 on Friday. The stock has a market cap of $13,459.24, a price-to-earnings ratio of 24.21, a P/E/G ratio of 2.25 and a beta of 0.61. McCormick & Company, Incorporated has a fifty-two week low of $90.25 and a fifty-two week high of $109.67. The company has a quick ratio of 0.42, a current ratio of 0.83 and a debt-to-equity ratio of 1.73.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, January 25th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.02. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. McCormick & Company, Incorporated had a net margin of 9.88% and a return on equity of 25.30%. McCormick & Company, Incorporated’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.27 earnings per share. analysts anticipate that McCormick & Company, Incorporated will post 4.88 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a yield of 2.05%. McCormick & Company, Incorporated’s dividend payout ratio is currently 56.22%.

In related news, VP Michael R. Smith sold 2,575 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $107.96, for a total value of $277,997.00. Following the completion of the sale, the vice president now directly owns 17,312 shares in the company, valued at $1,869,003.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia A. Little sold 6,250 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $108.63, for a total transaction of $678,937.50. Following the completion of the sale, the director now owns 15,497 shares of the company’s stock, valued at $1,683,439.11. The disclosure for this sale can be found here. Corporate insiders own 15.30% of the company’s stock.

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McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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