Chesapeake Capital Corp IL Makes New $950,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

Chesapeake Capital Corp IL purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,458 shares of the company’s stock, valued at approximately $950,000. McCormick & Company, Incorporated accounts for 1.0% of Chesapeake Capital Corp IL’s holdings, making the stock its 19th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its holdings in McCormick & Company, Incorporated by 7.8% during the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after acquiring an additional 1,114,706 shares during the period. Geode Capital Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock valued at $482,823,000 after purchasing an additional 54,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of McCormick & Company, Incorporated by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock worth $247,158,000 after purchasing an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock worth $127,115,000 after buying an additional 568,276 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in McCormick & Company, Incorporated by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company’s stock valued at $115,081,000 after buying an additional 46,411 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Down 0.9 %

MKC stock opened at $81.16 on Wednesday. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The company has a market capitalization of $21.76 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The business’s 50 day moving average price is $77.97 and its two-hundred day moving average price is $78.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

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, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. As a group, analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MKC shares. JPMorgan Chase & Co. raised their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Barclays cut their price objective on 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.75.

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.