McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,318 shares of the company’s stock after selling 239 shares during the period. Kentucky Retirement Systems’ holdings in McCormick & Company, Incorporated were worth $1,320,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MKC. Janney Montgomery Scott LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $20,227,000. Hemenway Trust Co LLC grew its stake in shares of McCormick & Company, Incorporated by 71.5% in the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after buying an additional 58,511 shares during the period. Wellington Management Group LLP grew its stake in shares of McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock valued at $11,500,000 after buying an additional 24,881 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after buying an additional 14,652 shares during the period. Finally, Qsemble Capital Management LP purchased a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $1,104,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction on 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 completion of the sale, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $80.15 on Monday. 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 has a 52 week low of $65.72 and a 52 week high of $85.49. The stock has a market capitalization of $21.49 billion, a PE ratio of 27.36, a P/E/G ratio of 3.76 and a beta of 0.75. The firm has a 50 day moving average of $76.33 and a two-hundred day moving average of $78.44.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating 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%. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MKC. 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 note on Monday, January 27th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. increased their price objective 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. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Moderate Buy” and an average target price 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.