State of New Jersey Common Pension Fund D Has $11,701,000 Stake in McCormick & Company, Incorporated (NYSE:MKC)

State of New Jersey Common Pension Fund D maintained its position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, Holdings Channel reports. The firm owned 120,000 shares of the company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in McCormick & Company, were worth $11,701,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MKC. Ironwood Investment Management LLC increased its position in shares of McCormick & Company, by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 3,628 shares of the company’s stock worth $354,000 after buying an additional 25 shares in the last quarter. Rothschild Asset Management Inc. increased its stake in McCormick & Company, by 9.1% in the second quarter. Rothschild Asset Management Inc. now owns 6,279 shares of the company’s stock valued at $612,000 after buying an additional 523 shares during the period. Cardinal Capital Management increased its stake in McCormick & Company, by 4.4% in the second quarter. Cardinal Capital Management now owns 43,002 shares of the company’s stock valued at $4,193,000 after buying an additional 1,799 shares during the period. American Research & Management Co. increased its stake in McCormick & Company, by 1.1% in the second quarter. American Research & Management Co. now owns 17,610 shares of the company’s stock valued at $1,717,000 after buying an additional 200 shares during the period. Finally, Harbour Capital Advisors LLC increased its stake in McCormick & Company, by 22,166.5% in the second quarter. Harbour Capital Advisors LLC now owns 722,549 shares of the company’s stock valued at $7,410,000 after buying an additional 719,304 shares during the period. 73.91% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated (MKC) opened at 95.76 on Thursday. The firm’s 50-day moving average is $96.17 and its 200 day moving average is $99.00. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 25.43 and a beta of 0.52. McCormick & Company, Incorporated has a one year low of $88.64 and a one year high of $106.50.

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

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 10th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, July 6th. McCormick & Company,’s payout ratio is currently 49.87%.

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Several equities research analysts recently issued reports on the stock. Jefferies Group LLC raised shares of McCormick & Company, from a “hold” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $110.00 in a research note on Friday, July 28th. Edward Jones raised shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Credit Suisse Group set a $108.00 price target on shares of McCormick & Company, and gave the stock a “buy” rating in a research note on Saturday, July 1st. BidaskClub downgraded shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research downgraded shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $104.00.

McCormick & Company, 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.

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

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