Reik & CO. LLC Reduces Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Reik & CO. LLC lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 463,068 shares of the company’s stock after selling 780 shares during the quarter. McCormick & Company, Incorporated comprises about 8.5% of Reik & CO. LLC’s holdings, making the stock its 5th biggest position. Reik & CO. LLC’s holdings in McCormick & Company, Incorporated were worth $35,304,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Atomi Financial Group Inc. purchased a new position in shares of McCormick & Company, Incorporated in the third quarter worth approximately $227,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in McCormick & Company, Incorporated by 445.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,082 shares of the company’s stock worth $171,000 after purchasing an additional 1,700 shares in the last quarter. Ritholtz Wealth Management raised its stake in McCormick & Company, Incorporated by 0.9% during the 3rd quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock valued at $1,603,000 after purchasing an additional 177 shares during the period. Exchange Traded Concepts LLC raised its stake in McCormick & Company, Incorporated by 23.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 11,900 shares of the company’s stock valued at $979,000 after purchasing an additional 2,282 shares during the period. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 18.6% in the third quarter. Koshinski Asset Management Inc. now owns 4,398 shares of the company’s stock valued at $362,000 after purchasing an additional 690 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $76.65 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $20.55 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a 12-month low of $64.33 and a 12-month high of $85.49. The company has a 50 day moving average price of $76.70 and a two-hundred day moving average price of $78.38.

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, beating 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 predict that McCormick & Company, Incorporated will post 3.07 earnings per share 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. Stockholders of record on Monday, December 30th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is 61.43%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. Barclays lowered their target price 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. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned 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.com, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and an average price target of $83.75.

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.