Choreo LLC Buys 1,675 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Choreo LLC boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 14.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,232 shares of the company’s stock after acquiring an additional 1,675 shares during the quarter. Choreo LLC’s holdings in McCormick & Company, Incorporated were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter worth $28,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated in the 4th quarter worth $33,000. Kennebec Savings Bank purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth $40,000. Rosenberg Matthew Hamilton bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $38,000. Finally, Friedenthal Financial bought a new stake in McCormick & Company, Incorporated during the third quarter valued at about $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of recent analyst reports. Barclays dropped their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Trading Up 1.4 %

MKC stock opened at $78.43 on Monday. The firm has a market cap of $21.03 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. The firm has a fifty day moving average price of $76.70 and a 200 day moving average price of $78.35. 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 has a fifty-two week low of $64.33 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.30%. McCormick & Company, Incorporated’s dividend payout ratio is 61.43%.

McCormick & Company, Incorporated Company 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.