Arizona State Retirement System Acquires 1,047 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Arizona State Retirement System grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,249 shares of the company’s stock after buying an additional 1,047 shares during the period. Arizona State Retirement System’s holdings in McCormick & Company, Incorporated were worth $5,585,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $28,000. Albion Financial Group UT bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Kennebec Savings Bank bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth $40,000. Rosenberg Matthew Hamilton bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth $38,000. Finally, Sanctuary Wealth Management L.L.C. bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth $50,000. 79.74% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was 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 directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MKC shares. Barclays cut their target price 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. JPMorgan Chase & Co. increased their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Trading Up 1.0 %

NYSE MKC opened at $82.66 on Friday. The firm has a market capitalization of $22.17 billion, a P/E ratio of 28.21, a PEG ratio of 3.76 and a beta of 0.71. The business has a fifty day simple moving average of $77.07 and a 200 day simple moving average of $78.76. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $85.78. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

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.