McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina cut its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,346 shares of the company’s stock after selling 2,900 shares during the period. Treasurer of the State of North Carolina owned 0.06% of McCormick & Company, Incorporated worth $12,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares during the last quarter. Vestcor Inc lifted its stake in shares of 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 buying an additional 1,036 shares in the last quarter. Toronto Dominion Bank boosted its position in McCormick & Company, Incorporated by 8.4% during the third 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. Sunbelt Securities Inc. grew its stake in McCormick & Company, Incorporated by 35.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 873 shares of the company’s stock valued at $72,000 after acquiring an additional 227 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in McCormick & Company, Incorporated by 10.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 93,400 shares of the company’s stock valued at $7,687,000 after acquiring an additional 8,671 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $75.84 on Friday. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a market cap of $20.34 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The business has a fifty day moving average of $79.53 and a two-hundred day moving average of $78.32.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.86%.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the sale, the director now owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,842 shares of company stock valued at $6,478,332. Company insiders own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MKC. JPMorgan Chase & Co. boosted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Barclays lowered their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus price target of $83.14.

McCormick & Company, Incorporated 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.