New York State Teachers Retirement System Decreases Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

New York State Teachers Retirement System decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 207,832 shares of the company's stock after selling 7,753 shares during the period. New York State Teachers Retirement System owned about 0.08% of McCormick & Company, Incorporated worth $17,105,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Advisors Ltd. LLC grew its position in shares of McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company's stock worth $27,000 after buying an additional 175 shares during the last quarter. OFI Invest Asset Management purchased a new position in McCormick & Company, Incorporated in the second quarter worth $29,000. 1620 Investment Advisors Inc. purchased a new position in McCormick & Company, Incorporated in the second quarter worth $35,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of McCormick & Company, Incorporated during the second quarter worth $39,000. Finally, Friedenthal Financial purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $49,000. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC traded up $0.51 on Friday, hitting $78.75. 1,517,343 shares of the company's stock traded hands, compared to its average volume of 1,914,950. The firm's 50-day moving average price is $81.11 and its two-hundred day moving average price is $76.09. The firm has a market capitalization of $21.13 billion, a PE ratio of 26.79, a P/E/G ratio of 3.56 and a beta of 0.77. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 57.14%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MKC. Stifel Nicolaus upped their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Bank of America lifted their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. Finally, TD Cowen upped their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and a consensus price target of $79.57.

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.