Tyche Wealth Partners LLC Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Tyche Wealth Partners LLC purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 9,602 shares of the company's stock, valued at approximately $732,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $28,000. Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Kennebec Savings Bank bought a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $40,000. Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated in the fourth quarter worth $38,000. Finally, Friedenthal Financial bought a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $49,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MKC. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Barclays lowered their price target 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. Finally, JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. One equities research 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $83.75.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the sale, the director now owns 28,217 shares in the company, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.90% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Up 1.4 %

McCormick & Company, Incorporated stock traded up $1.12 during mid-day trading on Friday, reaching $78.43. 1,310,724 shares of the company were exchanged, compared to its average volume of 2,090,431. 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 firm has a market cap of $21.03 billion, a P/E ratio of 26.77, a PEG ratio of 3.67 and a beta of 0.75. The business has a fifty day moving average of $76.70 and a 200 day moving average of $78.35. McCormick & Company, Incorporated has a 12-month low of $64.33 and a 12-month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued 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%. Research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.30%. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.43%.

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.