Trust Co. of Toledo NA OH Buys Shares of 566 McCormick & Company, Incorporated $MKC

Trust Co. of Toledo NA OH bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 566 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds have also bought and sold shares of the company. Capital Analysts LLC bought a new stake in McCormick & Company, Incorporated during the first quarter valued at approximately $26,000. Zions Bancorporation National Association UT bought a new stake in McCormick & Company, Incorporated during the first quarter valued at approximately $28,000. Wayfinding Financial LLC purchased a new position in shares of McCormick & Company, Incorporated during the first quarter worth approximately $30,000. Stonebridge Financial Group LLC raised its stake in shares of McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock worth $33,000 after acquiring an additional 202 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of McCormick & Company, Incorporated during the first quarter worth approximately $59,000. 79.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MKC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Citigroup decreased their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 17th. UBS Group decreased their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Stifel Nicolaus decreased their price target on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group decreased their price target on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $78.22.

Insiders Place Their Bets

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total value of $3,293,000.00. Following the sale, the insider owned 246,762 shares in the company, valued at $16,251,745.32. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Down 1.8%

Shares of McCormick & Company, Incorporated stock opened at $65.44 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. McCormick & Company, Incorporated has a 52-week low of $63.66 and a 52-week high of $86.24. The stock has a market capitalization of $17.56 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 3.86 and a beta of 0.63. The company’s 50 day moving average price is $68.44 and its 200-day moving average price is $72.22.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 annualized dividend and a yield of 2.8%. McCormick & Company, Incorporated’s payout ratio is 62.28%.

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.