New York State Common Retirement Fund Decreases Stake in McCormick & Company, Incorporated (NYSE:MKC)

New York State Common Retirement Fund lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,460 shares of the company’s stock after selling 16,057 shares during the period. New York State Common Retirement Fund’s holdings in McCormick & Company, Incorporated were worth $18,180,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of McCormick & Company, Incorporated by 7.8% during the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Geode Capital Management LLC lifted its position in McCormick & Company, Incorporated by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after buying an additional 54,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in McCormick & Company, Incorporated by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after buying an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in McCormick & Company, Incorporated by 58.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after buying an additional 568,276 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock worth $120,409,000 after acquiring an additional 30,696 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.2 %

Shares of MKC opened at $80.15 on Friday. 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. McCormick & Company, Incorporated has a 1 year low of $65.72 and a 1 year high of $85.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The company’s 50-day simple moving average is $76.33 and its 200-day simple moving average is $78.42.

McCormick & Company, Incorporated (NYSE:MKC) last released 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 net margin of 11.73% and a return on equity of 14.89%. Analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MKC. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

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 stock was sold at an average price of $77.03, for a total transaction 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. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 23.80% of the company’s stock.

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.