Louisiana State Employees Retirement System Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Louisiana State Employees Retirement System acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,200 shares of the company’s stock, valued at approximately $1,040,000.

Other large investors have also made changes to their positions in the company. Legacy Financial Group LLC acquired a new position in shares of McCormick & Company, Incorporated during the third quarter valued at about $29,000. Anchor Investment Management LLC acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth about $36,000. Milestone Investment Advisors LLC acquired a new position in McCormick & Company, Incorporated in the third quarter worth about $47,000. Valley National Advisers Inc. raised its position in McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares in the last quarter. Finally, Private Trust Co. NA raised its position in McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after purchasing an additional 290 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $75.85 on Thursday. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39. The stock has a market cap of $20.36 billion, a PE ratio of 28.95, a PEG ratio of 3.83 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. The firm’s 50 day moving average price is $71.22 and its two-hundred day moving average price is $67.69.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. As a group, analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the sale, the director now owns 5,594 shares in the company, valued at $430,738. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,726 shares of company stock worth $2,504,728. Company insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MKC shares. Barclays increased their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, April 2nd. Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $77.88.

McCormick & Company, Incorporated Company 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.