McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9,283.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 367,253 shares of the company’s stock after purchasing an additional 363,339 shares during the period. Teacher Retirement System of Texas owned 0.14% of McCormick & Company, Incorporated worth $27,999,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. International Private Wealth Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 3.9% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after acquiring an additional 136 shares during the last quarter. Empower Advisory Group LLC boosted its position in shares of McCormick & Company, Incorporated by 1.7% in the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after acquiring an additional 138 shares during the last quarter. Hunter Associates Investment Management LLC boosted its position in shares of McCormick & Company, Incorporated by 1.2% in the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after acquiring an additional 153 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 3.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company’s stock worth $427,000 after acquiring an additional 169 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its position in shares of McCormick & Company, Incorporated by 4.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock worth $320,000 after acquiring an additional 170 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Down 0.8 %

MKC opened at $80.66 on Friday. The firm has a market capitalization of $21.63 billion, a P/E ratio of 27.53, a P/E/G ratio of 3.76 and a beta of 0.71. The firm’s 50 day moving average is $78.23 and its 200-day moving average is $78.92. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. Analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MKC shares. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.