New Mexico Educational Retirement Board Increases Holdings in McCormick & Company, Incorporated (MKC)

New Mexico Educational Retirement Board raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,466 shares of the company’s stock after acquiring an additional 900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in McCormick & Company, Incorporated were worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MKC. Zions Bancorporation grew its holdings in McCormick & Company, Incorporated by 5,071.4% during the third quarter. Zions Bancorporation now owns 1,086 shares of the company’s stock valued at $111,000 after purchasing an additional 1,065 shares during the period. Knights of Columbus Asset Advisors LLC grew its holdings in McCormick & Company, Incorporated by 136.6% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 1,500 shares of the company’s stock valued at $154,000 after purchasing an additional 866 shares during the period. Dupont Capital Management Corp bought a new position in McCormick & Company, Incorporated during the third quarter valued at $173,000. YorkBridge Wealth Partners LLC bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth $174,000. Finally, Kornitzer Capital Management Inc. KS bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth $200,000. 76.46% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently commented on MKC. Zacks Investment Research raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday, February 13th. Jefferies Group reaffirmed a “buy” rating and issued a $120.00 price target on shares of McCormick & Company, Incorporated in a report on Thursday, January 25th. Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $103.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, January 26th. UBS Group raised their price target on McCormick & Company, Incorporated from $100.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Finally, Credit Suisse Group set a $115.00 price target on McCormick & Company, Incorporated and gave the stock a “buy” rating in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $107.67.

In related news, Director Patricia A. Little sold 6,250 shares of McCormick & Company, Incorporated stock in a transaction on Monday, January 29th. The stock was sold at an average price of $108.63, for a total transaction of $678,937.50. Following the completion of the sale, the director now owns 15,497 shares of the company’s stock, valued at $1,683,439.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael R. Smith sold 2,575 shares of McCormick & Company, Incorporated stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $107.96, for a total value of $277,997.00. Following the sale, the vice president now directly owns 17,312 shares of the company’s stock, valued at approximately $1,869,003.52. The disclosure for this sale can be found here. 15.30% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated (NYSE:MKC) opened at $104.06 on Thursday. McCormick & Company, Incorporated has a twelve month low of $90.25 and a twelve month high of $109.67. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.83 and a quick ratio of 0.42. The company has a market capitalization of $13,713.58, a price-to-earnings ratio of 24.67, a PEG ratio of 2.29 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, January 25th. The company reported $1.54 EPS for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.02. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. McCormick & Company, Incorporated had a return on equity of 25.30% and a net margin of 9.88%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period last year, the company earned $1.27 earnings per share. research analysts anticipate that McCormick & Company, Incorporated will post 4.88 EPS for the current fiscal year.

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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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