McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,832 shares of the company’s stock after selling 7,753 shares during the period. New York State Teachers Retirement System’s holdings in McCormick & Company, Incorporated were worth $17,105,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MKC. Capital Advisors Ltd. LLC grew its holdings in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter worth about $35,000. Strategic Investment Solutions Inc. IL acquired a new position in McCormick & Company, Incorporated during the second quarter valued at approximately $39,000. Finally, Friedenthal Financial acquired a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $78.75 on Friday. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The stock’s fifty day moving average is $81.11 and its 200-day moving average is $76.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The firm has a market capitalization of $21.13 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. Equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.13%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.14%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. TD Cowen boosted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research 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 stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America lifted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus 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.