Chesapeake Capital Corp IL Invests $950,000 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 the company in 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 biggest position.

Other large investors have also added to or reduced their stakes in the company. Curio Wealth LLC bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $30,000. Albion Financial Group UT purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $33,000. Twin Tree Management LP bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Rosenberg Matthew Hamilton bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $38,000. Finally, Kentucky Trust Co purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MKC. JPMorgan Chase & Co. raised their price objective 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. Barclays reduced their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $81.16 on Wednesday. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The company has a market cap of $21.76 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The stock has a 50-day moving average price of $77.97 and a 200-day moving average price of $78.89.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 23.80% of the company’s stock.

About McCormick & Company, Incorporated

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.