New Mexico Educational Retirement Board cut its position in McCormick & Company, Incorporated (NYSE:MKC) by 8.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,566 shares of the company’s stock after selling 1,000 shares during the period. New Mexico Educational Retirement Board’s holdings in McCormick & Company, were worth $1,007,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of McCormick & Company, by 15.3% in the first quarter. Nisa Investment Advisors LLC now owns 22,662 shares of the company’s stock worth $2,211,000 after buying an additional 3,000 shares in the last quarter. Armstrong Henry H Associates Inc. increased its position in shares of McCormick & Company, by 2.1% in the first quarter. Armstrong Henry H Associates Inc. now owns 19,699 shares of the company’s stock worth $1,922,000 after buying an additional 400 shares in the last quarter. DnB Asset Management AS increased its position in shares of McCormick & Company, by 40.9% in the first quarter. DnB Asset Management AS now owns 17,919 shares of the company’s stock worth $1,748,000 after buying an additional 5,200 shares in the last quarter. National Investment Services Inc. WI purchased a new position in shares of McCormick & Company, during the first quarter worth about $2,006,000. Finally, Portland Global Advisors LLC increased its position in shares of McCormick & Company, by 1.8% in the first quarter. Portland Global Advisors LLC now owns 8,530 shares of the company’s stock worth $832,000 after buying an additional 150 shares in the last quarter. Institutional investors own 73.69% of the company’s stock.

Shares of McCormick & Company, Incorporated (NYSE MKC) opened at 98.03 on Tuesday. The stock’s 50 day moving average is $95.89 and its 200 day moving average is $99.07. McCormick & Company, Incorporated has a 12 month low of $88.64 and a 12 month high of $106.50. The stock has a market cap of $12.21 billion, a P/E ratio of 26.04 and a beta of 0.52.

McCormick & Company, (NYSE:MKC) last released its earnings results on Thursday, June 29th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.06. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. Analysts predict that McCormick & Company, Incorporated will post $4.08 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 24th. Stockholders of record on Monday, July 10th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Thursday, July 6th. McCormick & Company,’s dividend payout ratio (DPR) is currently 49.87%.

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A number of brokerages recently issued reports on MKC. Zacks Investment Research downgraded shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Goldman Sachs Group, Inc. (The) began coverage on shares of McCormick & Company, in a research report on Friday, June 16th. They set a “neutral” rating and a $101.00 price objective for the company. Jefferies Group LLC restated a “hold” rating and set a $95.00 price objective on shares of McCormick & Company, in a research report on Friday, May 19th. Credit Suisse Group set a $108.00 price objective on shares of McCormick & Company, and gave the stock a “buy” rating in a research report on Saturday, July 1st. Finally, Edward Jones upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $104.00.

About McCormick & Company,

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, (NYSE:MKC)

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