Public Employees Retirement System of Ohio Acquires 22,468 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Public Employees Retirement System of Ohio lifted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 23.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,523 shares of the company's stock after buying an additional 22,468 shares during the period. Public Employees Retirement System of Ohio's holdings in McCormick & Company, Incorporated were worth $9,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $20,227,000. Hemenway Trust Co LLC lifted its position in McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company's stock worth $11,552,000 after purchasing an additional 58,511 shares during the period. Oppenheimer & Co. Inc. grew its stake in McCormick & Company, Incorporated by 57.6% during the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company's stock worth $3,298,000 after buying an additional 14,652 shares in the last quarter. Boston Trust Walden Corp increased its holdings in McCormick & Company, Incorporated by 1.1% in the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company's stock valued at $44,882,000 after buying an additional 6,588 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $2,819,000. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Up 0.1 %

Shares of NYSE:MKC traded up $0.05 during midday trading on Thursday, hitting $81.41. 1,360,516 shares of the stock were exchanged, compared to its average volume of 1,898,046. The business's 50-day moving average price is $78.36 and its 200 day moving average price is $76.64. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 3.31 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The company's revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. Analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. McCormick & Company, Incorporated's payout ratio is 61.22%.

Insider Activity

In other news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MKC. Stifel Nicolaus increased their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. Bank of America lifted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the company from $85.00 to $91.00 in a research note on Monday. Finally, TD Cowen boosted their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $81.00.

McCormick & Company, Incorporated Profile

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.