McCormick & Company, Incorporated (NYSE:MKC) Position Raised by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 16.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,729 shares of the company’s stock after purchasing an additional 41,042 shares during the period. Public Employees Retirement Association of Colorado owned 0.11% of McCormick & Company, Incorporated worth $21,870,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MKC. VisionPoint Advisory Group LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $44,000. Valley National Advisers Inc. raised its holdings in McCormick & Company, Incorporated by 283.9% during the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares in the last quarter. Private Trust Co. NA raised its holdings in McCormick & Company, Incorporated by 59.1% during the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after purchasing an additional 290 shares in the last quarter. Lindbrook Capital LLC raised its holdings in McCormick & Company, Incorporated by 16.5% during the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after purchasing an additional 134 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in McCormick & Company, Incorporated by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after purchasing an additional 461 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the topic of several research reports. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, April 2nd. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price target for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. Finally, TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $76.25.

McCormick & Company, Incorporated Stock Up 0.5 %

NYSE:MKC traded up $0.36 during trading hours on Monday, hitting $76.15. 706,509 shares of the stock traded hands, compared to its average volume of 1,992,956. The firm has a 50 day moving average price of $70.95 and a 200 day moving average price of $70.78. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $89.99. The firm has a market cap of $20.46 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 3.91 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the business earned $0.60 EPS. The company’s revenue was down 1.0% on a year-over-year basis. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total transaction of $207,386.12. The disclosure for this sale can be found here. Insiders have sold a total of 107,732 shares of company stock worth $7,982,386 in the last ninety days. Corporate insiders own 22.90% of the company’s stock.

About McCormick & Company, Incorporated

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.