Kentucky Retirement Systems Insurance Trust Fund Trims Position in McCormick & Company, Incorporated (NYSE:MKC)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 37.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,676 shares of the company’s stock after selling 2,786 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in McCormick & Company, Incorporated were worth $356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp lifted its stake in shares of McCormick & Company, Incorporated by 7.8% during the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after buying an additional 1,114,706 shares during the period. Geode Capital Management LLC lifted its stake in shares of McCormick & Company, Incorporated by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock valued at $482,823,000 after buying an additional 54,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of McCormick & Company, Incorporated by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock valued at $247,158,000 after buying an additional 177,567 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of McCormick & Company, Incorporated by 58.2% during the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after buying an additional 568,276 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of McCormick & Company, Incorporated by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after buying an additional 30,696 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $78.63 on Thursday. McCormick & Company, Incorporated has a 52-week low of $65.72 and a 52-week high of $85.49. The firm has a fifty day moving average of $76.44 and a 200-day moving average of $78.39. The firm has a market capitalization of $21.09 billion, a P/E ratio of 26.84, a PEG ratio of 3.66 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. As a group, analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Barclays dropped their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Company 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.