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

New York State Common Retirement Fund reduced its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 6.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 238,460 shares of the company's stock after selling 16,057 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of McCormick & Company, Incorporated worth $18,180,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of McCormick & Company, Incorporated by 7.8% during the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock worth $1,260,499,000 after buying an additional 1,114,706 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock valued at $127,115,000 after acquiring an additional 568,276 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in McCormick & Company, Incorporated by 2,778.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company's stock worth $37,606,000 after buying an additional 441,048 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in McCormick & Company, Incorporated by 321.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company's stock worth $34,298,000 after purchasing an additional 343,070 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in McCormick & Company, Incorporated in the third quarter worth about $20,227,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded down $2.80 during midday trading on Wednesday, reaching $80.00. 926,837 shares of the company were exchanged, compared to its average volume of 1,962,343. The stock's 50-day moving average price is $76.40 and its 200-day moving average price is $78.50. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a market cap of $21.45 billion, a P/E ratio of 27.34, a PEG ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

MKC has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays decreased their price target on 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. JPMorgan Chase & Co. boosted their price objective on 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 target 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average 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.