Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKCFree Report) by 15.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,488 shares of the company’s stock after acquiring an additional 6,741 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in McCormick & Company, Incorporated were worth $3,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MKC. Union Savings Bank purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter worth about $27,000. Legacy Financial Group LLC bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $29,000. Headlands Technologies LLC bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. Point72 Hong Kong Ltd purchased a new position in McCormick & Company, Incorporated during the 1st quarter valued at $44,000. Finally, Private Trust Co. NA grew its position in McCormick & Company, Incorporated by 50.4% in the 2nd quarter. Private Trust Co. NA now owns 516 shares of the company’s stock valued at $45,000 after acquiring an additional 173 shares during the last quarter. 78.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MKC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Barclays lowered their target price on McCormick & Company, Incorporated from $74.00 to $71.00 and set an “equal weight” rating for the company in a report on Tuesday, January 16th. Finally, Citigroup began coverage on McCormick & Company, Incorporated in a research note on Thursday, February 1st. They set a “sell” rating and a $60.00 price target on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $73.50.

Get Our Latest Stock Report on MKC

McCormick & Company, Incorporated Trading Up 2.2 %

Shares of McCormick & Company, Incorporated stock opened at $66.07 on Tuesday. The stock has a market cap of $17.72 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 3.47 and a beta of 0.75. The firm has a fifty day moving average price of $67.27 and a 200 day moving average price of $71.29. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.65 and a quick ratio of 0.28.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.78 billion. McCormick & Company, Incorporated had a return on equity of 14.55% and a net margin of 10.22%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 2.82 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 8th. Investors of record on Friday, December 29th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.54%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, December 28th. McCormick & Company, Incorporated’s payout ratio is presently 66.67%.

McCormick & Company, Incorporated Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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