Public Employees Retirement Association of Colorado Acquires 41,042 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Public Employees Retirement Association of Colorado raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 16.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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’s holdings in McCormick & Company, Incorporated were worth $21,870,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. VisionPoint Advisory Group LLC bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $44,000. Valley National Advisers Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 283.9% during the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after acquiring an additional 582 shares during the period. Private Trust Co. NA lifted its holdings in shares of McCormick & Company, Incorporated by 59.1% during the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after acquiring an additional 290 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of McCormick & Company, Incorporated by 16.5% during the 1st quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after acquiring an additional 134 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of McCormick & Company, Incorporated by 72.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after acquiring an additional 461 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.5 %

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

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly 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 firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was down 1.0% on a year-over-year basis. As a group, analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given 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 of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MKC shares. TD Cowen cut their price target on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, April 2nd. Finally, Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price objective for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.25.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at $14,695,277.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total value of $207,386.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lawrence Erik Kurzius sold 80,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the sale, the director now owns 199,258 shares of the company’s stock, valued at $14,695,277.50. The disclosure for this sale can be found here. Insiders sold a total of 107,732 shares of company stock worth $7,982,386 over the last three months. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated Company 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.