Louisiana State Employees Retirement System Makes New $1.04 Million Investment in McCormick & Company, Incorporated (NYSE:MKC)

Louisiana State Employees Retirement System acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,200 shares of the company’s stock, valued at approximately $1,040,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of McCormick & Company, Incorporated by 64.6% in the 3rd quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock valued at $8,216,000 after purchasing an additional 42,625 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 7,344.4% in the 4th quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock valued at $7,946,000 after purchasing an additional 114,572 shares during the last quarter. Jacobs & Co. CA boosted its stake in shares of McCormick & Company, Incorporated by 12.7% in the 4th quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock valued at $9,780,000 after purchasing an additional 16,098 shares during the last quarter. Fenimore Asset Management Inc. boosted its stake in shares of McCormick & Company, Incorporated by 369.2% in the 4th quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock valued at $47,554,000 after purchasing an additional 546,911 shares during the last quarter. Finally, Howland Capital Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 11.4% in the 4th quarter. Howland Capital Management LLC now owns 275,703 shares of the company’s stock valued at $18,979,000 after purchasing an additional 28,149 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Citigroup increased their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Tuesday, April 2nd. Finally, Barclays upped their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $77.88.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $75.85 on Thursday. The firm has a 50-day moving average of $71.22 and a 200-day moving average of $67.69. The company has a market cap of $20.36 billion, a P/E ratio of 28.95, a P/E/G ratio of 3.83 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Equities research analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is 64.12%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the transaction, the director now owns 39,181 shares in the company, valued at $2,554,601.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,726 shares of company stock valued at $2,504,728. Company 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.