State Treasurer State of Michigan Has $3.70 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

State Treasurer State of Michigan reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,068 shares of the company’s stock after selling 1,100 shares during the quarter. State Treasurer State of Michigan’s holdings in McCormick & Company, were worth $3,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. boosted its stake in McCormick & Company, by 1.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 201,739 shares of the company’s stock worth $20,706,000 after buying an additional 2,198 shares during the period. Wendell David Associates Inc. boosted its stake in McCormick & Company, by 0.6% during the third quarter. Wendell David Associates Inc. now owns 124,615 shares of the company’s stock worth $12,790,000 after buying an additional 790 shares during the period. Howe & Rusling Inc. purchased a new position in McCormick & Company, during the third quarter worth $504,000. PGGM Investments lifted its position in shares of McCormick & Company, by 5.1% during the third quarter. PGGM Investments now owns 102,000 shares of the company’s stock worth $10,469,000 after purchasing an additional 4,959 shares during the last quarter. Finally, Shell Asset Management Co. lifted its position in shares of McCormick & Company, by 55.2% during the third quarter. Shell Asset Management Co. now owns 241,296 shares of the company’s stock worth $16,143,000 after purchasing an additional 85,817 shares during the last quarter. 69.38% of the stock is owned by institutional investors and hedge funds.

In other news, VP Michael R. Smith sold 5,500 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $102.60, for a total transaction of $564,300.00. Following the completion of the transaction, the vice president now directly owns 19,248 shares in the company, valued at approximately $1,974,844.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Freeman A. Hrabowski III sold 3,000 shares of the firm’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $98.68, for a total value of $296,040.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,000 shares of company stock valued at $1,598,490. 15.30% of the stock is owned by company insiders.

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Shares of McCormick & Company, Incorporated (MKC) traded up $0.04 during mid-day trading on Tuesday, hitting $96.96. The stock had a trading volume of 782,100 shares, compared to its average volume of 879,753. McCormick & Company, Incorporated has a twelve month low of $88.64 and a twelve month high of $106.50. The company has a current ratio of 0.95, a quick ratio of 0.47 and a debt-to-equity ratio of 1.86. The firm has a market cap of $12,696.23, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 2.45 and a beta of 0.53.

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

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 24th. Shareholders of record on Tuesday, October 10th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.94%. The ex-dividend date was Friday, October 6th. McCormick & Company,’s payout ratio is currently 51.93%.

Several analysts have recently weighed in on MKC shares. Jefferies Group LLC set a $115.00 target price on McCormick & Company, and gave the stock a “buy” rating in a research report on Saturday, October 7th. Zacks Investment Research upgraded McCormick & Company, 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. Credit Suisse Group AG restated a “buy” rating and issued a $115.00 price objective (up from $112.00) on shares of McCormick & Company, in a report on Friday, September 29th. Stifel Nicolaus restated a “hold” rating and issued a $103.00 price objective (up from $95.00) on shares of McCormick & Company, in a report on Monday, October 2nd. Finally, Citigroup Inc. boosted their target price on shares of McCormick & Company, from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, October 2nd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. McCormick & Company, presently has an average rating of “Buy” and a consensus price target of $106.00.

McCormick & Company, 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.

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

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