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

Choreo LLC increased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 14.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,232 shares of the company’s stock after buying an additional 1,675 shares during the period. Choreo LLC’s holdings in McCormick & Company, Incorporated were worth $1,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of McCormick & Company, Incorporated by 29.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,647 shares of the company’s stock worth $2,969,000 after acquiring an additional 8,766 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in McCormick & Company, Incorporated by 4.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 83,516 shares of the company’s stock valued at $6,367,000 after purchasing an additional 3,863 shares during the last quarter. E. Ohman J or Asset Management AB increased its stake in McCormick & Company, Incorporated by 23.9% during the 4th quarter. E. Ohman J or Asset Management AB now owns 414,940 shares of the company’s stock valued at $31,635,000 after purchasing an additional 80,163 shares in the last quarter. Alliance Wealth Advisors LLC UT raised its holdings in McCormick & Company, Incorporated by 2.5% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 27,770 shares of the company’s stock worth $2,117,000 after buying an additional 690 shares during the last quarter. Finally, Optas LLC lifted its stake in shares of McCormick & Company, Incorporated by 16.6% in the fourth quarter. Optas LLC now owns 2,990 shares of the company’s stock worth $228,000 after buying an additional 426 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.4 %

MKC stock opened at $78.43 on Monday. The company has a market cap of $21.03 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 3.67 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The business’s 50-day moving average is $76.70 and its two-hundred day moving average is $78.35. 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 issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. As a group, analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.43%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MKC shares. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Barclays reduced their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.