Chesapeake Capital Corp IL Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Chesapeake Capital Corp IL purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) 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.

A number of other large investors have also added to or reduced their stakes in MKC. Curio Wealth LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $30,000. Twin Tree Management LP purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at approximately $33,000. Albion Financial Group UT bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Rosenberg Matthew Hamilton bought a new position in McCormick & Company, Incorporated in the 4th quarter worth about $38,000. Finally, Kentucky Trust Co bought a new position in McCormick & Company, Incorporated in the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC traded down $0.69 during trading hours on Friday, reaching $80.01. 3,780,784 shares of the stock traded hands, compared to its average volume of 1,827,985. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock has a 50 day simple moving average of $78.40 and a two-hundred day simple moving average of $78.91. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The company has a market cap of $21.46 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

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McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays lowered their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. boosted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research report on Friday, January 24th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.75.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares of the company's stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Company 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.