Choreo LLC Grows Position in McCormick & Company, Incorporated (NYSE:MKC)

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

Several other hedge funds and other institutional investors also recently modified their holdings of MKC. Capital Advisors Ltd. LLC boosted its stake in McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. OFI Invest Asset Management purchased a new stake in shares of McCormick & Company, Incorporated in the second quarter worth about $29,000. 1620 Investment Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $35,000. Farmers & Merchants Investments Inc. grew its stake in McCormick & Company, Incorporated by 40.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after acquiring an additional 228 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $67,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $83.17 on Friday. The firm has a market capitalization of $22.34 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 4.27 and a beta of 0.76. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $84.50. The business’s 50-day moving average price is $77.12 and its 200-day moving average price is $73.69.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now owns 199,258 shares in the company, valued at $14,944,350. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price target for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. TD Cowen lowered their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.25.

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.