Texas Permanent School Fund Corp Sells 10,404 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Texas Permanent School Fund Corp lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 20.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 41,571 shares of the company’s stock after selling 10,404 shares during the period. Texas Permanent School Fund Corp’s holdings in McCormick & Company, Incorporated were worth $2,949,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its holdings in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the period. OFI Invest Asset Management bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $29,000. 1620 Investment Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $35,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 40.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after purchasing an additional 228 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $67,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.7 %

MKC opened at $83.76 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The firm has a market cap of $22.50 billion, a P/E ratio of 30.57, a P/E/G ratio of 4.26 and a beta of 0.76. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $84.50. The stock has a 50-day moving average of $77.38 and a 200 day moving average of $73.89.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. As a group, research analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now owns 199,258 shares of the company’s stock, valued at $14,944,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 22.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MKC has been the subject of several research reports. TD Cowen dropped their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price target for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $76.25.

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.