Chicago Capital LLC Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Chicago Capital LLC acquired a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,850 shares of the company's stock, valued at approximately $482,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Hazlett Burt & Watson Inc. increased its stake in McCormick & Company, Incorporated by 2.8% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock worth $382,000 after purchasing an additional 137 shares during the period. Sage Capital Advisors llc grew its holdings in shares of McCormick & Company, Incorporated by 2.8% in the first quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock worth $413,000 after purchasing an additional 137 shares during the last quarter. Empower Advisory Group LLC grew its holdings in shares of McCormick & Company, Incorporated by 1.7% in the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock worth $641,000 after purchasing an additional 138 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of McCormick & Company, Incorporated by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock worth $3,278,000 after buying an additional 139 shares during the period. Finally, ST Germain D J Co. Inc. raised its holdings in McCormick & Company, Incorporated by 1.8% during the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock valued at $643,000 after buying an additional 140 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Up 0.3%

McCormick & Company, Incorporated stock traded up $0.19 during mid-day trading on Wednesday, reaching $73.15. 1,881,643 shares of the company traded hands, compared to its average volume of 2,042,999. The firm's 50 day moving average price is $74.50 and its 200 day moving average price is $76.92. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.25. The firm has a market capitalization of $19.62 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 3.72 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.67%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company earned $0.63 earnings per share. McCormick & Company, Incorporated's quarterly revenue was up .2% on a year-over-year basis. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Insider Transactions at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the sale, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,392 shares of company stock valued at $4,898,101. Corporate insiders own 23.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Citigroup lowered their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, UBS Group started coverage on McCormick & Company, Incorporated in a research note on Monday. They issued a "neutral" rating and a $83.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $84.13.

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.