Choreo LLC Acquires 3,122 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Choreo LLC lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 22.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,070 shares of the company’s stock after buying an additional 3,122 shares during the quarter. Choreo LLC’s holdings in McCormick & Company, Incorporated were worth $1,194,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its holdings in McCormick & Company, Incorporated by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after acquiring an additional 7,898 shares in the last quarter. Trexquant Investment LP lifted its holdings in shares of McCormick & Company, Incorporated by 374.3% in the 4th quarter. Trexquant Investment LP now owns 116,169 shares of the company’s stock worth $7,948,000 after purchasing an additional 91,676 shares in the last quarter. Ossiam grew its position in McCormick & Company, Incorporated by 89.5% in the 4th quarter. Ossiam now owns 41,928 shares of the company’s stock valued at $2,869,000 after purchasing an additional 19,807 shares during the period. Cetera Investment Advisers increased its stake in McCormick & Company, Incorporated by 470.6% during the 1st quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after purchasing an additional 31,306 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $430,000. Institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

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

McCormick & Company, Incorporated Trading Up 0.7 %

Shares of MKC stock opened at $83.17 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The company has a market capitalization of $22.34 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 4.27 and a beta of 0.76. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $84.50. The company has a 50-day simple moving average of $77.12 and a two-hundred day simple moving average of $73.69.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. McCormick & Company, Incorporated’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Research analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated 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 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 is accessible through this hyperlink. 22.90% of the stock is owned by company insiders.

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.