Tyche Wealth Partners LLC Makes New $732,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

Tyche Wealth Partners LLC acquired a new position in McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,602 shares of the company’s stock, valued at approximately $732,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Wallington Asset Management LLC increased its stake in McCormick & Company, Incorporated by 3.4% during the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after acquiring an additional 136 shares during the last quarter. Hunter Associates Investment Management LLC increased its stake in McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after acquiring an additional 153 shares during the last quarter. Aurora Investment Counsel increased its stake in McCormick & Company, Incorporated by 2.1% during the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock worth $695,000 after acquiring an additional 172 shares during the last quarter. UMB Bank n.a. increased its stake in McCormick & Company, Incorporated by 0.9% during the third quarter. UMB Bank n.a. now owns 20,134 shares of the company’s stock worth $1,657,000 after acquiring an additional 176 shares during the last quarter. Finally, Ritholtz Wealth Management increased its stake in McCormick & Company, Incorporated by 0.9% during the third quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock worth $1,603,000 after acquiring an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MKC. Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated has an average rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 0.0 %

MKC stock opened at $76.85 on Thursday. The company’s 50-day simple moving average is $76.72 and its 200-day simple moving average is $78.30. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 52-week low of $64.33 and a 52-week high of $85.49. The firm has a market cap of $20.61 billion, a P/E ratio of 26.23, a PEG ratio of 3.67 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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 EPS 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. Stockholders of record on Monday, December 30th were paid a dividend of $0.45 per share. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is presently 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.