2,865 Shares in McCormick & Company, Incorporated (NYSE:MKC) Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,865 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Advisors Ltd. LLC grew its holdings in McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of McCormick & Company, Incorporated in the second quarter worth approximately $29,000. 1620 Investment Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $35,000. Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated during the 2nd quarter valued at $39,000. Finally, Friedenthal Financial bought a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the transaction, the director now owns 40,436 shares of the company’s stock, valued at $3,174,226. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $78.83 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The company has a 50 day moving average price of $81.08 and a 200-day moving average price of $76.19. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49. The stock has a market capitalization of $21.15 billion, a PE ratio of 26.81, a PEG ratio of 3.60 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. McCormick & Company, Incorporated’s revenue was down .3% on a year-over-year basis. Equities analysts predict that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a $0.42 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.13%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MKC. Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Bank of America raised their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen boosted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $79.57.

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.