Vontobel Holding Ltd. Has $3.66 Million Position in McCormick & Company, Incorporated $MKC

Vontobel Holding Ltd. boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,242 shares of the company’s stock after buying an additional 1,844 shares during the quarter. Vontobel Holding Ltd.’s holdings in McCormick & Company, Incorporated were worth $3,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. IFM Investors Pty Ltd raised its position in shares of McCormick & Company, Incorporated by 13.3% in the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company’s stock worth $4,091,000 after acquiring an additional 5,829 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of McCormick & Company, Incorporated in the 1st quarter worth about $260,000. Stratos Wealth Partners LTD. raised its position in shares of McCormick & Company, Incorporated by 5.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company’s stock worth $7,267,000 after acquiring an additional 4,771 shares in the last quarter. Retirement Guys Formula LLC bought a new position in shares of McCormick & Company, Incorporated in the 1st quarter worth about $988,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of McCormick & Company, Incorporated by 10.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company’s stock worth $3,464,000 after acquiring an additional 3,877 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total value of $3,293,000.00. Following the transaction, the insider owned 246,762 shares in the company, valued at $16,251,745.32. The trade was a 16.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MKC shares. Deutsche Bank Aktiengesellschaft lowered their price objective on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday. Stifel Nicolaus lowered their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday. Citigroup lowered their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, June 17th. UBS Group decreased their target price on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $78.22.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $66.70 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.27 and a current ratio of 0.71. The stock has a 50 day moving average price of $68.53 and a two-hundred day moving average price of $72.45. The firm has a market capitalization of $17.90 billion, a P/E ratio of 23.08, a P/E/G ratio of 3.83 and a beta of 0.63. McCormick & Company, Incorporated has a 52 week low of $63.66 and a 52 week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, October 14th. McCormick & Company, Incorporated’s payout ratio is currently 62.28%.

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.