Retirement Systems of Alabama Trims Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Retirement Systems of Alabama decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,384 shares of the company’s stock after selling 1,392 shares during the quarter. Retirement Systems of Alabama’s holdings in McCormick & Company, Incorporated were worth $3,789,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Anchor Investment Management LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth $36,000. Milestone Investment Advisors LLC bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth about $47,000. Valley National Advisers Inc. lifted its position 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 valued at $53,000 after buying an additional 582 shares in the last quarter. Private Trust Co. NA grew its stake 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 valued at $53,000 after acquiring an additional 290 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in McCormick & Company, Incorporated by 72.9% in 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 in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MKC has been the topic of several analyst reports. Argus raised shares of 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. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. cut their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Barclays upped their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Finally, Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.88.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $75.76 on Tuesday. The business’s 50-day moving average is $72.56 and its 200 day moving average is $68.53. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. The company has a market capitalization of $20.33 billion, a P/E ratio of 28.92, a P/E/G ratio of 3.87 and a beta of 0.73. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 1,726 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the sale, the director now owns 39,181 shares in the company, valued at approximately $2,554,601.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. Insiders sold 33,726 shares of company stock worth $2,504,728 over the last 90 days. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated 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.