Teachers Retirement System of The State of Kentucky Sells 1,116 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,792 shares of the company’s stock after selling 1,116 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in McCormick & Company, Incorporated were worth $1,547,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Sunbelt Securities Inc. increased its position in shares of McCormick & Company, Incorporated by 35.1% during the third quarter. Sunbelt Securities Inc. now owns 873 shares of the company’s stock worth $72,000 after acquiring an additional 227 shares in the last quarter. Toronto Dominion Bank boosted its holdings in McCormick & Company, Incorporated by 8.4% during the 3rd quarter. Toronto Dominion Bank now owns 137,301 shares of the company’s stock worth $11,300,000 after acquiring an additional 10,605 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in McCormick & Company, Incorporated by 6.0% during the third quarter. Coldstream Capital Management Inc. now owns 9,264 shares of the company’s stock worth $761,000 after purchasing an additional 528 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after buying an additional 54,018 shares during the last quarter. Finally, Vestcor Inc boosted its position in McCormick & Company, Incorporated by 25.9% in the third quarter. Vestcor Inc now owns 5,043 shares of the company’s stock worth $415,000 after purchasing an additional 1,036 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $80.31 on Wednesday. McCormick & Company, Incorporated has a 1-year low of $63.88 and a 1-year high of $85.49. The firm has a market cap of $21.55 billion, a P/E ratio of 27.32, a P/E/G ratio of 3.48 and a beta of 0.75. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average of $78.40 and a 200-day moving average of $76.93.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.24%. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Analyst Ratings Changes

MKC has been the subject of a number of research reports. TD Cowen increased their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America upped their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $81.00.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the sale, the director now directly owns 28,217 shares of the company’s stock, valued at $2,182,302.78. This represents a 15.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 20,000 shares of company stock valued at $1,565,850. Corporate insiders own 22.90% of the company’s stock.

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.