Tyche Wealth Partners LLC Purchases New Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Tyche Wealth Partners LLC bought a new position in McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 9,602 shares of the company’s stock, valued at approximately $732,000.

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

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the sale, the director now directly owns 28,217 shares of the company’s stock, valued at $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 available at this hyperlink. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $76.85 on Thursday. The stock has a market cap of $20.61 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. The company has a fifty day simple moving average of $76.72 and a 200-day simple moving average of $78.30. McCormick & Company, Incorporated has a 12-month low of $64.33 and a 12-month high of $85.49. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data 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%. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a $0.45 dividend. The ex-dividend date was Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.34%. McCormick & Company, Incorporated’s payout ratio is 61.43%.

Analysts Set New Price Targets

MKC has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Barclays dropped their target price on shares of 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. JPMorgan Chase & Co. lifted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $86.00 to $90.00 in a 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average target price of $83.75.

McCormick & Company, Incorporated 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.