Kentucky Retirement Systems Trims Position in McCormick & Company, Incorporated (NYSE:MKC)

Kentucky Retirement Systems decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,318 shares of the company’s stock after selling 239 shares during the quarter. 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 large investors also recently bought and sold shares of MKC. Capital Performance Advisors LLP purchased a new position in McCormick & Company, Incorporated during the third quarter worth approximately $28,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $33,000. Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $38,000. Kennebec Savings Bank acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter worth $50,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $80.15 on Monday. The business’s 50-day moving average is $76.33 and its 200-day moving average is $78.44. McCormick & Company, Incorporated has a fifty-two week low of $65.72 and a fifty-two week high of $85.49. The company has a market capitalization of $21.49 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 3.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s 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 transaction, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. 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. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Barclays decreased their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.75.

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.