Kentucky Retirement Systems Insurance Trust Fund Sells 658 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in McCormick & Company, Incorporated (NYSE:MKC) by 8.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,462 shares of the company’s stock after selling 658 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in McCormick & Company, Incorporated were worth $614,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MKC. HCR Wealth Advisors grew its position in shares of McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after buying an additional 135 shares during the period. Wallington Asset Management LLC grew its holdings in McCormick & Company, Incorporated by 3.4% in the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after purchasing an additional 136 shares during the period. Aptus Capital Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 2.9% during the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after purchasing an additional 141 shares in the last quarter. KFG Wealth Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 1.5% during the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after purchasing an additional 156 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Friday, November 1st. The stock was sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of the sale, the director now owns 40,436 shares of the company’s stock, valued at $3,174,226. The trade was a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 20,000 shares of company stock worth $1,565,850. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.9 %

Shares of NYSE:MKC opened at $74.62 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49. The company has a market cap of $20.03 billion, a P/E ratio of 25.38, a PEG ratio of 3.38 and a beta of 0.77. The stock’s fifty day moving average price is $80.13 and its 200-day moving average price is $76.22.

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

McCormick & Company, Incorporated Announces Dividend

The business 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. This represents a $1.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of analyst reports. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. TD Cowen lifted 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. Finally, Bank of America increased their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One investment 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.