California State Teachers Retirement System lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 204,885 shares of the company’s stock after selling 6,828 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of McCormick & Company, Incorporated worth $21,029,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MKC. IFP Advisors Inc increased its holdings in shares of McCormick & Company, Incorporated by 28.4% during the 2nd quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock worth $174,000 after buying an additional 395 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of McCormick & Company, Incorporated by 3.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 358,274 shares of the company’s stock worth $34,936,000 after buying an additional 10,766 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $358,000. State of Wisconsin Investment Board acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $4,311,000. Finally, Legal & General Group Plc increased its holdings in shares of McCormick & Company, Incorporated by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 674,546 shares of the company’s stock worth $65,763,000 after buying an additional 33,406 shares during the last quarter. 76.14% of the stock is currently owned by institutional investors.

Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at $101.57 on Wednesday. McCormick & Company, Incorporated has a twelve month low of $89.65 and a twelve month high of $106.50. The stock has a market capitalization of $13,321.08, a price-to-earnings ratio of 25.61, a P/E/G ratio of 2.32 and a beta of 0.53. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.95 and a quick ratio of 0.47.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, September 28th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.07. McCormick & Company, Incorporated had a return on equity of 26.09% and a net margin of 10.05%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm earned $1.03 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. equities analysts anticipate that McCormick & Company, Incorporated will post 4.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.52 dividend. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, December 28th. McCormick & Company, Incorporated’s dividend payout ratio is currently 51.93%.

A number of analysts have recently commented on the company. Stifel Nicolaus restated a “hold” rating and set a $103.00 price objective (up from $95.00) on shares of McCormick & Company, Incorporated in a report on Monday, October 2nd. Zacks Investment Research upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a report on Monday, October 2nd. Citigroup upped their price objective on McCormick & Company, Incorporated from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, October 2nd. Credit Suisse Group restated a “buy” rating and set a $115.00 price objective (up from $112.00) on shares of McCormick & Company, Incorporated in a report on Friday, September 29th. Finally, Jefferies Group set a $120.00 price objective on McCormick & Company, Incorporated and gave the stock a “buy” rating in a report on Monday, October 30th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus price target of $106.67.

In related news, Director Freeman A. Hrabowski III sold 3,000 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $98.68, for a total value of $296,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael R. Smith sold 5,500 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $102.60, for a total value of $564,300.00. Following the completion of the sale, the vice president now owns 19,248 shares of the company’s stock, valued at $1,974,844.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,000 shares of company stock valued at $1,598,490. 15.30% of the stock is owned by insiders.

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McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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